Piper Sandler Tesla · TSLA

Piper Sandler Maintains Overweight on Tesla, $400 Price Target

Analyst: Alexander Potter 1 min read Reproduced verbatim
Rating
Overweight
Unchanged
Target
$400
Outcome
Reached
on September 15, 2025
Piper Sandler and Tesla logos

What the analyst said

Piper Sandler analyst Alexander Potter reiterated an Overweight rating and $400 price target on Tesla (NASDAQ: TSLA).

“On Friday we hosted an investor call with Jordan Giesige of ‘The Limiting Factor’. See below for summary bullets.

Our take: thanks to vertical integration, Tesla is the only car company that is trying to source batteries, at scale, without relying on China.

In fact, for in-house ‘4680’ batteries, China reliance is already approaching 0%.

Eventually, Tesla will be making its own cathode active materials (CAM), refining its own lithium, building its own anodes, coating its own electrodes, assembling its own cells, and selling its own cars.

No other U.S. entity can make similar claims. Success isn’t assured, and in the next 2+ years, there’s no way to insulate the U.S. supply chain from China… but at least Tesla has a plan.”

Disclaimer
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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 $344. The 17 analysts who set a target in the last 3 months range from $24.86 to $500, with a median of $442. This $400 target is 10% below the median.

Since the note TSLA has moved 0% (from $343). The 12-month window closed on June 3, 2026.

Track record

This call✓ Target reached on September 15, 2025, 5 months after the note. Same target as this firm’s April 16, 2025 note, so it is scored there.

Firm track recordPiper Sandler: 79% of its 38 targets at least a year old were reached within 12 months (#15 of 26 firms); on Tesla, 3 of 5. Accuracy ranking →

Piper Sandler on Tesla

Piper Sandler price targets on Tesla

8 calls from May 6, 2025 to August 29, 2025. The target stayed at $400. The rating stayed Buy.

Piper Sandler targetTSLA share price
  1. August 29, 2025Kept the $400 targetBuy$400
  2. August 4, 2025Kept the $400 targetBuy$400
  3. July 24, 2025Kept the $400 targetBuy$400
  4. July 21, 2025Kept the $400 targetBuy$400
  5. June 10, 2025Kept the $400 targetBuy$400
  6. June 3, 2025 This noteKept the $400 targetBuy$400
  7. May 22, 2025Kept the $400 targetBuy$400
  8. May 6, 2025Earliest call shownBuy$400
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Other analysts on Tesla

CantorBuy Kept rating and price target Oct 26 $485maintained BarclaysBuy Upgraded, raised price target +22% Oct 26 $450from $370 StoneXBuy Kept rating and price target Oct 22 $475maintained BNP ParibasHold Upgraded Oct 22 Morgan StanleyHold Raised price target +2%, kept rating Oct 22 $410from $400
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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.