Bank of America Securities Maintained a Buy Rating on Pony AI (PONY)

Pony AI Inc. (NASDAQ:PONY) is one of the Most Promising New Technology Stocks According to Wall Street AnalystsOn May 20, Ming-Hsun Lee from Bank of America Securities maintained a Buy rating on Pony AI Inc. (NASDAQ:PONY) with a price target of $21.

Lee highlighted the company’s advancements in robotaxi technology, especially its seventh-generation robotaxi now in mass production. He noted that the latest model uses 100% automotive-grade parts and has cut production costs significantly, improving unit economics and scalability.

Bank of America Securities Maintained a Buy Rating on Pony AI (PONY)

A closeup of a self-driving hardware unit inside the dashboard of a passenger vehicle.

Pony AI Inc. (NASDAQ:PONY) aims to expand its robotaxi fleet to 1,000 vehicles by the end of 2025. Moreover, the company also plans to increase service density in major Chinese cities and build international partnerships, which should boost profitability and commercial deployment. Lee highlighted that the company’s proprietary Virtual Driver technology is a key competitive advantage, integrating software, hardware, and services for reliable autonomous driving.

Pony AI Inc. (NASDAQ:PONY) is a technology company that specializes in autonomous vehicle technology. It runs fully driverless robotaxi services and develops robotrucks with safety drivers for freight delivery within a logistics network.

While we acknowledge the potential of PONY 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 PONY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.