Piper Sandler's super bullish Tesla report with $2,300 target even makes Elon Musk say 'Wow'

Elon Musk, chief executive officer of Tesla Inc., smiles while speaking to members of the media outside federal court in New York, U.S., on Thursday, April 4, 2019.
Natan Dvir | Bloomberg | Getty Images

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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.