TD Cowen Maintains Buy Rating on Tesla (TSLA)

On Tuesday, May 27, TD Cowen analysts maintained a “Buy” rating with a price target of $330 for Tesla, Inc. (NASDAQ:TSLA). The analysts highlighted the company’s autonomous vehicle (AV) features, which coincide with TD Cowen’s thesis regarding Tesla’s (NASDAQ:TSLA) potential in this area.

According to the analysts, Tesla, Inc.’s (NASDAQ:TSLA) AV capabilities go beyond just ridesharing and could transform consumer AV business models. TD Cowen analysts expect that the company’s developments in AV technology could result in new revenue streams and increase the company’s share of the vehicle market.

The analysts also pointed out that the recent pricing pressures in China’s electric vehicle (EV) market make the company’s progress in autonomous vehicle features even more important. This suggests that Tesla, Inc.’s (NASDAQ:TSLA) advancements in autonomous driving could help the company compete and stand out in markets like China.

While we acknowledge the potential of 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 a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None.