Year to date, (NASDAQ: TSLA) shares are up nearly 40%. Considering that the S 500 has risen 8% during this same period, investors are likely pleased with this year-to-date performance. But this analyst thinks the stock has plenty of room to run. Piper Sandler analyst Alex Potter has a 12-month price target for the stock of $280 -- a price tag that implies more than a 60% gain from here.
This bullish view for the growth stock comes as many analysts have lowered their price targets substantially recently, citing the company's narrower profit margin thanks to aggressive price cuts on Tesla vehicles this year.
Let's take a look at what's behind Potter's optimistic view for the stock.
Source Fool.com