FREE Shipping in USA

   |    Subscribe our Newsletter
0

Your Cart is Empty

Piper Sandler raises target price for TSLA to $928 per share

by Eva Fox February 19, 2020

Piper Sandler raises target price for TSLA to $928 per share

Piper Sandler Cos. raised its target price for Tesla [TSLA] is up to $928 from $729. The company's analysts believe that Tesla will succeed in the field of solar energy production and energy storage, which will grow significantly in the coming years.

Shares have more than doubled in the past four months and are currently trading at $918.31 per share.

“It’s easy to forget that TSLA sells batteries and solar power products; after all, the segment was only 6% of sales in 2019, ”analysts Alexander Potter and Winnie Dong wrote in a February 18 note. “But management says that the solar + storage business will one day rival the Automotive segment, and if this is true, then investors will eventually need to pay attention.”

In order to objectively evaluate Tesla’s chances in the solar business, the analysts installed a solar-based system that is used to charge Model X. They wrote in a note that the results of this experiment so far are pleasing to them.

During the Q4 2019 earnings call, Tesla CEO Elon Musk shares that there is strong demand for the Solarglass roof. "We see a lot of interest and it's just a question of refining the installation process and getting the crew to do it," he said. "It's a question of if people want a live roof. It's the future we want." Musk said it will be a major product of Tesla.

In January, Piper analysts said Tesla shares are currently undervalued. Therefore, they increased their target price by more than 30%. Prior to that, their target price was $423, and after that, rose to $553 per share.

The reason for this was that Tesla fulfilled the declared quantity of deliveries in 2019. The company also has great potential in the Chinese market: Gigafactory 3 was built and commissioned in less than 1 year and customers already receive their made in China Model 3.

 




Also in Tesmanian Blog

Tesla-Model-3-Long-Range-Giga-Shanghai
Tesla Giga Shanghai Long Range Model 3 May Enter China Market This Week

by Ma. Claribelle Deveza April 07, 2020 0 Comments

Tesla Giga Shanghai’s Model 3 Long Range RWD may enter China’s auto market as early as this week.
Read More
Tesla-OTA-Update-2020.12.5
Tesla Update 2020.12.5 Dashcam Viewer Video With Full Release Notes

by Ma. Claribelle Deveza April 07, 2020 0 Comments

Footage of Tesla’s new Dashcam Viewer feature from OTA update 2020.12.5 was recently shared by a Model 3 owner.
Read More
SpaceX Dragon returns from the Space Station tomorrow, its final splashdown will mark the end of an era -Watch It Live!
SpaceX Dragon returns from the Space Station tomorrow, its final splashdown will mark the end of an era -Watch It Live!

by Evelyn Arevalo April 06, 2020 0 Comments

After a decade in operation, SpaceX's original Dragon spacecraft will be retired soon. 
Read More

Previous  / Next