13 Best Automotive Stocks to Buy According to Hedge Funds

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1. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 115

Tesla, Inc. (NASDAQ:TSLA) is one of the best automotive stocks to buy according to hedge funds. Piper Sandler analyst Alexander Potter maintained a Buy rating on Tesla, Inc. (NASDAQ:TSLA) on August 29, setting a price target of $400.00.

The stock also received a Buy rating from Morgan Stanley’s Adam Jonas in a report issued on August 26. However, GLJ Research reiterated a Sell rating on Tesla, Inc. (NASDAQ:TSLA) on August 21.

Tesla, Inc. (NASDAQ:TSLA) reported on July 2 that it produced over 410,000 vehicles in Q2, delivering more than 384,000 vehicles and deploying 9.6 GWh of energy storage products.

Tesla, Inc. (NASDAQ:TSLA) designs, manufactures, and sells high-performance electric vehicles and energy generation and storage systems. It operates through two segments: energy generation and storage, and automotive.

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 this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

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