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Piper Sandler is now the biggest Tesla bull on the Street, and the firm's eye-popping new target elicited a response from CEO Elon Musk himself, who commented on Twitter with a simple "wow."
The firm raised its target on shares of the electric vehicle maker to $2,322 from $939 on Monday night, which implies a 55% rally ahead for the stock. The call firmly establishes the firm as the most optimistic on the Street. The second most bullish target is $1,525, while the average is $867.69, according to data from FactSet.