Wall Street Has a New Big Bull on Tesla
- Piper Sandler analysts cite batteries, solar power business
- Tesla shares gain as much as 7.8% to touch a high of $925
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Tesla Inc.’s potential success in energy generation and storage will be the next big thing to fuel the rally that’s already caused the stock to almost triple in the past year, analysts at Piper Sandler Cos. said as they increased their price target by more than 27%.
Piper raised its target to $928 from $729, making it the most bullish estimate among among those tracked by Bloomberg. The shares -- which have more than doubled in the past four months -- rose as much as 7.8% in New York on Wednesday and touched a high of $925.