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Tesla, Aleady Soaring, Could Reach $1,200 a Share: Analyst

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By Liz Moyer

Investing.com -- Tesla Inc (NASDAQ:TSLA)stock is up 500% in the last year, but it could rise another 50% this year, according to Piper Sandler (NYSE:PIPR)'s Alexander Potter.

"The fireworks aren't over," the analyst said in a 100-page note on Monday, saying Tesla could reach $1,200, a Street-high price target. Needless to say, he maintained his overweight rating on the stock. Tesla traded up 3%.

"While it is more exhaustive than anything we have published to date, even our expanded model does not capture all potential revenue streams. Indeed, with Tesla's target industries still embracing outdated business models, it may be decades before this company runs out of new opportunities to pursue," the analyst said in the note, according to StreetInsider.

Telsa joined the S&P 500 last year. Potter says he sees the electric vehicle maker on track to deliver 9 million vehicles by 2030.

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