This Analyst Says Tesla Stock Will Surge to $423 in 2020

If you're looking for an investment in the auto industry, Tesla (NASDAQ: TSLA) is a "must-own stock," according to Piper Jaffray.

The investment bank boosted its target price for Tesla's shares from $372 to $423 on Tuesday. Analyst Alexander Potter believes that the electric-vehicle maker's new Cybertruck could be a key growth driver in the coming years.

Piper Jaffray thinks Tesla's new Cybertruck will be a big hit. Image source: Tesla.

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Source Fool.com