12 AI Stocks in Focus on Wall Street: Tesla, Meta, and More

Page 6 of 6

6. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 137

Tesla, Inc. (NASDAQ:TSLA) is one of the 12 AI Stocks in Focus on Wall Street. On April 21, BofA Securities analyst Alex Perry reiterated a Buy rating on the stock with a $460.00 price target. The buy rating on Tesla is driven on the premise that robotaxi opportunity is likely to drive long-term upside for the company, in turn unlocking early-stage autonomy monetization.

The firm is of the view that Tesla is in the early stages of autonomy monetization, with the upcoming Robotaxi fleet seen as a “major embedded opportunity” that isn’t fully reflected in current valuation models.

BofA particularly highlighted how autonomous vehicles (AVs) represent the single largest “change agent” in the Auto 2.0 era. The transition is likely to be steered by high economic value of saved commuting time and improved safety of AI-pivoted travel.

We maintain our Buy & $460 PO as we see significant embedded opportunity from robotaxi, and believe TSLA is at the early stages of monetization of its autonomy capabilities. We see autonomous vehicles spurring the next era of mobility and as the most significant change agent in the Auto 2.0 landscape, offering consumers the prospect of saving time, safer travel, and more accessible transportation.

Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives.

While we acknowledge the potential of TSLA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TSLA and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 AI Stocks in Focus on Wall Street: Tesla, Meta, and More.

Disclosure: None. Follow Insider Monkey on Google News.

Page 6 of 6