Tesla stock is favored by well-known US investment banks
Piper Sandler, a well-known American investment bank, described Tesla as the "best buy and hold" stock in its latest report, and raised the year-end target price of the stock from $315 to $500. The target price given by the bank is much higher than the current average target price of Wall Street analysts (about $353), and it is one of the major banks most optimistic about Tesla's prospects.