Piper Sandler Reiterates Tesla’s $400 PT
Piper Sandler reiterated on June 10, 2025, an ‘Overweight’ rating on Tesla, with a $400 price target.
“There were two developments in our coverage that warrant special attention today:
- Driverless Teslas have been spotted on the streets of Austin, TX
- Kelley Blue Book released data for new car pricing (see chart on page 2)
These may seem like unrelated data points, but they’re not. See below for our rationale.
Bottom line: a key component of our TSLA thesis has officially begun playing out. We expect the stock to sustain upward momentum in the coming weeks, as more information is disclosed (pending any high-profile robo-taxi accidents, which would likely be met with violent downside). We reiterate our Overweight rating.
RISKS TO ACHIEVEMENT OF PT & RECOMMENDATION
Production delays, raw material pricing volatility, product defects and recalls, supply chain disruptions, slow adoption of electric vehicles.”
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