Piper Sandler analyst Alex Potter recently increased Tesla’s price target from $1,300 previously to $1,350, maintaining a BUY rating. Potter’s price increase is based on Tesla’s recent 10-K annual filing.
Piper Sandler forecasts that Tesla will deliver 1.58 million vehicles in 2022, implying a 69% growth compared to 2021. For reference, Tesla had a total of 936,172 vehicles last year, very close to 1 million cars and over 50% more than 2020 when it delivered precisely 499,550.
Piper Sandler noted that Tesla aims for at least 50% unit growth in the future. It also observed that the Model Y is the most significant near-term growth driver while chip supply is Tesla’s limiting factor.
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