Tesla (TSLA) Target Boosted to $509 by TD Cowen After Strong Deliveries and AI Momentum

Tesla, Inc. (NASDAQ:TSLA) is one of the Hot AI Stocks to Keep on Your RadarOn October 9, TD Cowen reiterated the stock as “Buy” TD Cowen said it’s standing by shares of Tesla and raising its price target on the stock.

“We’re also Buy rated on Tesla (PT to $509 from $374)…”

The raised price target follows Tesla’s significant third-quarter delivery beat and sustained progress in autonomous vehicle and artificial intelligence development.

Analysts noted how the product goals previously outlined in the recently proposed CEO compensation package has further enhanced its confidence in the company’s long-term story.

TD Cowen has also updated its financial model, reflecting on third-quarter deliveries and recent data points. This has resulted in somewhat higher 2025 earnings per share estimates and slight upward revisions to out-year projections.

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 Trending AI Stocks on Wall Street’s Radar and 10 AI Stocks In The Spotlight For Investors

Disclosure: None.