Tesla (TSLA) Stock: TD Cowen Reiterates Buy Rating, Price Target $374

Tesla, Inc. (NASDAQ:TSLA) is one of the  AI Stocks in the Spotlight for Investors. On September 12, TD Cowen analyst Itay Michaeli reiterated a Buy rating on the stock with a $374.00 price target.

The rating affirmation follows a special sell-side call with the Special Committee of the Board to discuss the recent CEO compensation proposal in the proxy filing.

The firm said it now has a clearer understanding of those proposals and that Tesla’s product milestones are well-aligned with the company’s thesis.

Pixabay/Public Domain

Analysts believe that the early milestones are achievable by 2030, while the remaining milestones will reflect Tesla’s bold long-term growth ambitions.

“The four Product Goals outlined in the proxy provide a good read on Tesla’s LT strategic priorities. By our estimation, the initial achievement of the four product goals would seem to align with the first two EBITDA milestones of $50/$80bln (our 2030E EBITDA = $53bln). Thus, our working assumption is that these product goals are possibly contemplated for achievement around ~2030 (give/take) within the 10yr plan, with remaining EBITDA milestones (up to $400bln) reflecting scalability ambitions.”

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 risk and potential of TSLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TSLA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 AI Stocks You Should Not Ignore and 10 AI Stocks Analysts Say You Should Watch Closely.

Disclosure: None.