Wedbush Keeps Tesla (TSLA) Outperform, Expects a Huge Upside

Tesla, Inc. (NASDAQ:TSLA) is one of the best battery tech stocks to buy right now. Wedbush analyst Daniel Ives is very positive about Tesla, Inc. (NASDAQ:TSLA) and thinks the company has a strong future ahead. He gave Tesla stock an Outperform rating on August 4, and kept his price target at $500. With the stock trading at $322.50, this means there is a possible upside of around 55%. That shows Ives believes Tesla can grow a lot more.

A big reason for this belief is the upcoming refresh of the Model Y. Many people are waiting for the new version, and it could help Tesla sell more cars. Also, Tesla is working hard on self-driving technology, and the planned robotaxi is expected to be a big step forward. If that project does well, it could open up a new area of business for Tesla. Wedbush also said that the current political climate under a Trump administration could make things easier for Tesla when it comes to rules and regulations. That might help the company move faster and focus more on its new products.

Ives sees many reasons to stay confident in Tesla. Between the new cars, the robotaxi, and support from the government, the company could keep growing. With a stock price much lower than the $500 target, some investors may see this as a good opportunity.

Tesla is a battery technology company because it designs and manufactures advanced lithium-ion battery cells, energy storage products like Powerwall and Megapack, and integrates these technologies into its electric vehicles and energy grid solutions, driving innovation in sustainable energy storage and usage.

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.

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Disclosure: None.