Serve Robotics (SERV) Gains Outperform Rating Amid AI Delivery Boom

Serve Robotics Inc. (NASDAQ:SERV) is one of the Trending AI Stocks on Wall Street. On August 27, Wedbush analyst Daniel Ives initiated coverage on the stock with an Outperform rating and a price target of $15.00.

The firm believes that the autonomous company has the potential to capitalize on the increasing adoption of AI-driven last mile delivery vehicles.

“We are initiating coverage on Serve Robotics with an OUTPERFORM rating and a $15 price target. In our view, Serve Robotics has established a pioneering autonomous delivery platform that is uniquely positioned to capitalize on the accelerating adoption of AI-driven last mile delivery vehicles.”

Dan Ives said that the company’s platform enables its robotic fleet to safely navigate city streets and sidewalks. It can do this while providing reliable, contactless service and that too, without technical expertise needed from users.

“Serve is positioning itself within the industry by building multiple revenue streams, including delivery, software services, and advertising providing multiple avenues to generate stable top-line growth while capitalizing on increased enterprise desire to automate the commerce industry,” updated Ives. “With plans to grow its autonomous robot fleet to 2,000 by the end of 2025, establish new partnerships, and launch operations in additional cities with favorable regulatory environments, Serve is strongly positioned to gain market share as demand rises for automation, operational efficiency, and sustainable delivery solutions.”

Serve Robotics Inc. (NASDAQ:SERV) designs, develops, and operates low-emission robots.

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