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The new price target is $ 1,200, an increase of $ 515, according to a 104-page analysis by analyst Alexander Potter. The recommendation for the stock, which was trading at $ 822 in the US market on Monday, remains to buy.
Piper Sandler predicts that by 2030 Tesla will have increased year-round deliveries from 0.9 million cars in 2021 to 9 million in 2030.
“2020 was a rash year for Tesla, but in our opinion, the fireworks are not over yet. Tesla has given the money 10 times in the last 12 months, but we do not believe investors should sell,” writes Piper Sandler.
The analysis is the largest published by the analysis house, but not even this important research work “can capture all potential sources of income,” according to Piper Sandler.
“The industries in which Tesla focuses are still trapped in outdated business models and it may be decades before new opportunities for this company are exhausted,” the analysts write.
