Piper Sandler Tesla · TSLA

Piper Sandler Lowers Tesla Price Target to $450

March 20, 2025 Analyst: Alexander Potter 1 min read Reproduced verbatim
Rating
Buy
Target
$450
from $500 (−10%)
Outcome
Reached
on October 1, 2025
Piper Sandler and Tesla logos

What the analyst said

Piper Sandler analyst Alexander Potter lowered the price target on Tesla (NASDAQ: TSLA) to $450 (from $500) while maintaining an Overweight rating.

“TSLA’s now back to its pre-election valuation. Remember: this isn’t the first time TSLA has doubled and subsequently gotten cut in half, and it likely won’t be the last.

In our view, nothing has changed re: Tesla’s ability to remake the world’s transportation and energy markets.

We are cutting our 2025 delivery expectations — and QTD trends may prompt others to follow suit — but we don’t think politics are entirely to blame.

Rather, factory shutdowns and the Model Y changeover are the primary cause of lower deliveries.

Although our $450 price target (down from $500) is based on P/E, our DCF-based methodology still implies a $300+ valuation, and that’s with no contribution from humanoid robots or AI-as-a-service.

In other words, at ~$234/sh, we think TSLA is cheap based solely on Autos+Energy+FSD.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

TSLA trades at $383. The 22 analysts who set a target in the last 3 months range from $24.86 to $500, with a median of $418. This $450 target is 8% above the median.

Since the note TSLA has moved +62% (from $236). The 12-month window closed on March 20, 2026.

Track record

This call✓ Target reached on October 1, 2025, 6 months after the note.

Firm track recordPiper Sandler: 84% of its 19 targets at least a year old were reached within 12 months (#9 of 20 firms); on Tesla, 3 of 5. Accuracy ranking →

Piper Sandler on Tesla

Piper Sandler price targets on Tesla

8 calls from January 21, 2025 to June 10, 2025. The target went from $500 to $400 (−20%). The rating stayed Buy.

Piper Sandler targetTSLA share price
  1. June 10, 2025Kept the $400 targetBuy$400
  2. May 22, 2025Kept the $400 targetBuy$400
  3. May 6, 2025Kept the $400 targetBuy$400
  4. April 16, 2025Target cut from $450 (−11%)Buy$400
  5. March 25, 2025Kept the $450 targetBuy$450
  6. March 24, 2025Kept the $450 targetBuy$450
  7. March 20, 2025 This noteTarget cut from $500 (−10%)Buy$450
  8. January 21, 2025Earliest call shownBuy$500
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Other analysts on Tesla

Yorkville IvesBuy Initiated coverage · Oct 7 $500 UBSHold Raised price target +2%, kept rating · Oct 7 $391from $385 Goldman SachsHold Kept rating and price target · Oct 6 $360maintained UBSHold Kept rating and price target · Oct 5 $385maintained TruistHold Kept rating and price target · Oct 5 $370maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.