Piper Sandler hikes Tesla price target to $928, highest on Wall Street

Elon Musk speaks at SolarCity's Inside Energy Summit in New York.
Rashid Umar Abbasi | Reuters

(This story is for CNBC Pro subscribers only.)

Piper Sandler raised its price target on Tesla to a street high, saying the electric automaker's push into other areas of clean energy will drive the stock higher.

The firm's analyst Alexander Potter raised his price target to $928 per share, up from $729. That is the highest near-term target among major analysts, but is below where the stock peaked during its rapid rise earlier this month.

The stock finished trading at $917.42 per share on Wednesday, about 1% below Piper's target and nearly 7% above where shares closed on Tuesday. It briefly traded above the target price during the day's regular trading session. 

More In Pro News and Analysis

CNBC ProAsset manager says the S&P 500 is primed for a rally — and reveals his top stock picks
CNBC ProMorgan Stanley loves these 9 global stocks trading at 'significant' lows
CNBC ProBest trades on CNBC Thursday: Where to find safety amid market uncertainty