Wedbush Sets New High Target for Tesla, Citing AI Potential

Published 13 hours agoTSLA

Wedbush Sets New High Target for Tesla, Citing AI Potential

Wedbush Securities has increased its price target for Tesla to $550 from $515, reaffirming its 'outperform' rating on the electric vehicle giant. Analyst Dan Ives described Tesla as the 'most undervalued AI play' in the current market landscape. This significant adjustment reflects confidence in Tesla’s advancements in artificial intelligence and autonomous driving technologies, which Wedbush sees as pivotal growth engines.

According to data from Reuters, despite recent stock market fluctuations, Tesla's market capitalization remains substantial at $942.4 billion. The stock has demonstrated a wide range of activity over the past year, with a 52-week low of $138.80 and a high of $488.54. Currently, Tesla shares are trading at approximately $341.04. Upcoming innovations, like a less expensive electric vehicle and a driverless taxi service, are anticipated to drive significant growth, according to Wedbush's outlook.

Tesla is viewed by Wedbush as evolving from an automotive company into a diversified technology leader, leveraging its robust AI capabilities. Analysts highlight Tesla's strategic focus on diversifying through technology initiatives as a key factor that supports this optimistic assessment. This positioning underscores the potential for substantial future value as the company launches new growth initiatives in AI and autonomous driving.

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