Tesla Stock a Flagship Holding Says Analyst
Wall Street s biggest bull comments after Tesla s Q1 delivery report.
Author:
Apr 5, 2021
Tesla stock looks set to rise on Monday following the company’s Q1 delivery beat. In premarket hours, one of Wall St.’s biggest TSLA bulls chimed in.
Alex Potter of Piper Sandler holds the highest price target on TSLA at $1,200 per share, more than 60% above today’s levels.
“On Friday Tesla reported Q1 deliveries of 184,800 units, exceeding consensus by over 10k units. Tesla apparently sidestepped the semiconductor shortages, battery bottlenecks, and shipping delays that plagued many other automakers during Q1. The result was especially impressive because the Model S/X production line was shut down for almost the entire quarter, due to a long-awaited ‘refresh’ for these flagship models. Without this impact, deliveries would have been higher still, likely by 15k+ vehicles,” Potter wrote in a new note.