Tesla price target raised to $500 from $315 at Piper Sandler

Piper Sandler raised the firm’s price target on Tesla (TSLA) to $500 from $315 and keeps an Overweight rating on the shares. The firm says Tesla is still its number 1 buy-and-hold idea. Piper thinks investors are starting to appreciate Tesla’s potential in “real-world” AI. That said, the long-term narrative often takes a back seat when current-year estimates are falling, and in this regard, the outlook is highly uncertain, the firm adds.