Wells Fargo Reiterates Underweight on Tesla(TSLA), $120 Price Target

Tesla, Inc. (NASDAQ:TSLA) is one of the AI Stocks In The Spotlight For Investors. On September 10, Wells Fargo analyst Colin Langan reiterated the stock as “Underweight” and noted that Tesla’s sales data remains weak.

“Available TSLA August sales data remains weak despite the end of IRA on Sept 30. Of the 3 major mkts we track, Aug TSLA deliveries are trending down 9% y/y, though 37% higher m/m.”

The firm further added that Q3 deliveries are still at risk as compared to consensus. The firm holds an Underweight rating with a $120 price target.

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 potential of TSLA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT:10 Buzzing AI Stocks on Wall Street and 10 AI Stocks on Wall Street’s Radar.

Disclosure: None.