15 AI Stocks Making Waves on Wall Street

6. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 104

Tesla, Inc. (NASDAQ:TSLA) is one the 15 AI Stocks Making Waves on Wall Street. On June 11, Piper Sandler reiterated the stock as “Overweight” with a $400 price target. The firm said it sees more Tesla upside on robotaxi deployment.

Analyst Alexander Potter is optimistic that the stock will likely sustain its upward momentum over the coming weeks. Driverless Teslas are now being spotted on the streets of Austin, Texas, with CEO Musk acknowledging the deployment and predicting licensing agreements.

Another significant development noted by the analyst is new data from Kelley Blue Book, which shows rising new car prices across the market. The analyst told investors in a research note how, together, the developments signify how the “key component” of the firm’s bullish thesis has started to play out. However, the firm has also warned that any high-profile robotaxi accidents would likely result in “violent downside”.

“Bottom line: a key component of our TSLA thesis has officially begun playing out. We expect the stock to sustain upward momentum in the coming weeks, as more information is disclosed.”

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