CNBC Pro

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

Share
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 ProHere are Bank of America’s top internet stock picks for the second half
CNBC ProSmall caps have slumped, but these cheap stocks are primed for a comeback, says Jefferies
CNBC ProThe bull market will get a $500 billion cash injection by year-end, Goldman says