Tesla shares gained after Piper Sandler analyst Alexander Potter raised his price target to $500 from $400.
- Potter’s upgrade followed a trip to China, where he said leading EV makers such as Xiaomi, Li Auto, and Leapmotor acknowledged Tesla as the leader in AI and self-driving technology.
- He noted Chinese automakers may be ahead in vehicle assembly, but Tesla outpaces them in AI infrastructure and machine development.
- Potter highlighted positive feedback on Tesla’s latest full self-driving system and forecast a record Q3 sales quarter.
