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Recent news about Tesla stock (NASDAQ:TSLA) have mostly been focused on the recent downgrades it received from Wall St, but amidst analysts’ more cautious stance on the company, the electric car maker actually received a 30% higher price target from Piper Sandler. The firm noted that its more optimistic outlook was due to the potential of Tesla in China.Â
In a recent note to clients, Piper analyst Alexander Potter stated that the Made-in-China Model 3 could end up being successful. Provided that the Model 3’s market share in the United States can be replicated in China, the all-electric sedan could help Tesla boost its delivery volumes to record levels.Â
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