Piper Sandler analyst Alexander Potter raised the firm’s price target on Tesla to $1,350 from $1,300 and keeps an Overweight rating on the shares. The analyst forecasts 1.58M deliveries in 2022, which implies 69% growth versus 2021. Model Y is the biggest near-term growth driver, while chip supply is the limiting factor, Potter tells investors in a research note. He adds that while Tesla’s gross margin “was a success story” in 2021, 2022 is hard to predict. Potter says Tesla’s cash flow “shields” it from macro uncertainty.