Yahoo Finance's Brian Sozzi discusses Piper Sandler's rating of Tesla stock.
BRIAN SOZZI: All right, and before we head to break, let's look at Tesla. Piper Sandler Analyst Alexander Potts slashed his price target estimates on Tesla owing to COVID-related weakness in the key market of China.
The analyst still sees Tesla as an overweight or a buy equivalent, but now sees fair value to $1,035 a share compared to about $1,260 previously. Potts added, he still views Tesla as a quote, "cornerstone holding in an advanced mobility portfolio."