Piper Sandler analyst Alexander Potter raised the firm’s price target on Tesla to $310 from $300 and keeps an Overweight rating on the shares. The firm increased Q3 and fiscal 2024 delivery estimates for Tesla after reviewing intra-quarter sales data. Piper now models 459,000 deliveries for Q3 and 1.75M units for fiscal 2024. Q3 seems likely to be Tesla’s best quarter ever, and although European sales are weak, Cybertruck deliveries are supporting demand in the U.S., the analyst tells investors in a research note. The firm cites higher estimates for the target bump.
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