As we predicted last week, we have another $Tesla(TSLA.US) price target increase going into quarter end - this one from Piper Sandler to $500 from $400. Piper defends TSLA’s FY2025 multiple of 230x, pointing to AMZN’s 200x+ multiple from 2012-2025. Piper is looking for $Tesla(TSLA.US) 3Q delivs of 495K - well above WS consensus of 433K as customers buy in front of the expiration of the $7,500 EV credit on 9/30, which Piper perceives as a pull forward from 4Q.
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