12 AI Stocks on Analysts’ Radar

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5. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 126

Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives. Morgan Stanley reiterated the stock as “Overweight” with a $410 price target. The firm said it’s standing by top pick Tesla. According to the firm, upcoming developments are likely going to boost investor confidence in Tesla’s role beyond automotive manufacturing. The analysts are optimistic about ’Muskonomy,’ a term which refers to the economic ecosystem surrounding Elon Musk’s ventures.

The rating reaffirmation follows Tesla CEO Elon Musk’s interview by CNBC’s David Faber at the Giga Texas facility in Austin. The firm noted the rarity of such interviews by Musk and also how insights from Musk could help steer the company’s future direction.

“We believe events between now and year-end will go some way to convince investors that Tesla is more than a car company. In many ways, we believe Tesla’s role in the ‘Muskonomy’ is more important than ever before.”

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