Tesla (TSLA) PT Raised to 'Street High' $928 at Piper Sandler; Bullish on Energy Generation and Storage

(Updated - February 19, 2020 7:25 AM EST)

Piper Sandler analyst Alexander Potter raised the price target on Tesla (NASDAQ: TSLA) to a 'Street High' $928.00 (from $729.00) while maintaining an Overweight rating. The analyst is positive on Tesla's other segment: Energy Generation and Storage.

The analyst comments "Although Tesla was founded to accelerate the transition to clean energy, we think many consumers aren't swayed by the righteousness of its mission. Instead, they are compelled by the superiority of Tesla's products. By combining eco-friendliness with blistering 0-60 times and 21st century tech, Tesla has hot-wired human psychology and turned consumers into unwitting climate warriors. But as curmudgeons rightly note, charging EVs with coal-based electricity isn't very "green". So Tesla's next challenge will entail making it cool to generate and store one's own solar power. In order to gauge Tesla's chances of success, we recently installed a solar system to use for charging a Model X. The results have been illuminating so far, and we're upping our PT accordingly to $928 from $729."

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