Piper Sandler Reiterates Overweight Rating on Tesla (TSLA)

Piper Sandler analyst Alexander Potter reiterated an Overweight rating and $205.00 price target on Tesla (NASDAQ: TSLA).

The analyst commented, "Our recent TSLA-related conversations have not focused on modeling. This is because, in the immediate term, everyone seems focused on the shareholder meeting (June 13). If shareholders vote in favor of the board's recommendations, then we think TSLA will trade sideways at worst. If the inverse occurs, then we think the stock price would fall. But with >40% retail ownership — and with a few institutions in both the “yea” and “nay” camps — we're not sure what will happen. To control risk, we'd be tactically equal-weight ahead of the vote. Looking beyond June, we think a rising focus on A.I. will support our Overweight rating. In the meantime, we're cutting our forecast for deliveries, but boosting our outlook for margins. These changes offset each other, and our price target remains $205."

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $176.29 yesterday.

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