Wall Street Touts Tesla Inc. (TSLA) Prospects Following $1Trillion Elon Musk Compensation Approval

Tesla Inc. (NASDAQ:TSLA) is one of the best blue-chip stocks to buy now. On November 11, analysts at Truist Securities expressed confidence in Tesla Inc.’s (NASDAQ:TSLA) prospects following the approval of $1 trillion equity compensation for Chief Executive Officer Elon Musk. The research firm reiterated a Hold rating and a $406 price target, citing confidence that the equity compensation removes the uncertainty of Musk leaving the company.

Wall Street Touts Tesla Inc. (TSLA) Prospects Following $1Trillion Elon Musk Compensation Approval

Hadrian / Shutterstock.com

On November 3, Wedbush reiterated an Outperform rating on the stock and a $600 price target, expecting that under Musk’s leadership, with the $1 trillion compensation in place, the company will become an AI juggernaut. The massive payout is based on Tesla achieving extraordinary market cap, operational, and AI-driven milestones.

Among the goals that Musk must achieve as part of the $1 trillion payout are ensuring Tesla delivers 20 million vehicles, 10 million active Full Self-Driving subscriptions, and 1 million robotaxis in commercial operation.

Tesla Inc. (NASDAQ:TSLA) is an electric vehicle company that utilizes AI to power its autonomous driving systems, manage its manufacturing and factories, and develop new products, such as the Optimus humanoid robot. The company leverages a massive dataset from its vehicle fleet to train these AI systems and also develops its own AI hardware.

While we acknowledge the potential of Tesla Inc. (NASDAQ:TSLA) as an investment, 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 the cheapest AI stock.

READ NEXT: Top 9 Undervalued Asset Management Stocks to Buy and 13 Best AI Stocks to Buy Under $20.

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