diff --git a/.betterer.results b/.betterer.results
index 069fc1a0b7a..273fe67a66f 100644
--- a/.betterer.results
+++ b/.betterer.results
@@ -6384,12 +6384,11 @@ exports[`better eslint`] = {
       [0, 0, 0, "Unexpected any. Specify a different type.", "16"],
       [0, 0, 0, "Unexpected any. Specify a different type.", "17"],
       [0, 0, 0, "Unexpected any. Specify a different type.", "18"],
-      [0, 0, 0, "Unexpected any. Specify a different type.", "19"],
-      [0, 0, 0, "Do not use any type assertions.", "20"],
+      [0, 0, 0, "Do not use any type assertions.", "19"],
+      [0, 0, 0, "Unexpected any. Specify a different type.", "20"],
       [0, 0, 0, "Unexpected any. Specify a different type.", "21"],
       [0, 0, 0, "Unexpected any. Specify a different type.", "22"],
-      [0, 0, 0, "Unexpected any. Specify a different type.", "23"],
-      [0, 0, 0, "Unexpected any. Specify a different type.", "24"]
+      [0, 0, 0, "Unexpected any. Specify a different type.", "23"]
     ],
     "public/app/plugins/datasource/graphite/lexer.ts:5381": [
       [0, 0, 0, "Unexpected any. Specify a different type.", "0"],
diff --git a/public/app/plugins/datasource/graphite/graphite_query.ts b/public/app/plugins/datasource/graphite/graphite_query.ts
index ac38010a0f1..e77655a3300 100644
--- a/public/app/plugins/datasource/graphite/graphite_query.ts
+++ b/public/app/plugins/datasource/graphite/graphite_query.ts
@@ -212,19 +212,10 @@ export default class GraphiteQuery {
     let targetWithNestedQueries = target.target;
 
     // Use ref count to track circular references
-    function countTargetRefs(targetsByRefId: any, refId: string) {
-      let refCount = 0;
-      each(targetsByRefId, (t, id) => {
-        if (id !== refId) {
-          const match = nestedSeriesRefRegex.exec(t.target);
-          const count = match && match.length ? match.length - 1 : 0;
-          refCount += count;
-        }
-      });
-      targetsByRefId[refId].refCount = refCount;
-    }
     each(targetsByRefId, (t, id) => {
-      countTargetRefs(targetsByRefId, id);
+      const regex = RegExp(`\#(${id})`, 'g');
+      const refMatches = targetWithNestedQueries.match(regex);
+      t.refCount = refMatches?.length ?? 0;
     });
 
     // Keep interpolating until there are no query references
diff --git a/public/app/plugins/datasource/graphite/specs/graphite_query.test.ts b/public/app/plugins/datasource/graphite/specs/graphite_query.test.ts
index 0d0f516f474..278d3ff8c25 100644
--- a/public/app/plugins/datasource/graphite/specs/graphite_query.test.ts
+++ b/public/app/plugins/datasource/graphite/specs/graphite_query.test.ts
@@ -39,6 +39,20 @@ describe('Graphite query model', () => {
       expect(ctx.queryModel.target.targetFull).toBe(targetFullExpected);
     });
 
+    it('targetFull should include nested queries with repeated subqueries', () => {
+      ctx.target = { refId: 'C', target: 'scale(asPercent(diffSeries(#B, #A), #B), 100)' };
+      ctx.targets = [
+        { refId: 'A', target: 'first.query.count' },
+        { refId: 'B', target: 'second.query.count' },
+        { refId: 'C', target: 'scale(asPercent(diffSeries(#B, #A), #B), 100)' },
+      ];
+      ctx.queryModel = new GraphiteQuery(ctx.datasource, ctx.target, ctx.templateSrv);
+      ctx.queryModel.updateRenderedTarget(ctx.target, ctx.targets);
+      const targetFullExpected =
+        'scale(asPercent(diffSeries(second.query.count, first.query.count), second.query.count), 100)';
+      expect(ctx.queryModel.target.targetFull).toBe(targetFullExpected);
+    });
+
     it('should not hang on circular references', () => {
       ctx.target.target = 'asPercent(#A, #B)';
       ctx.targets = [