Tesla (TSLA, Financials) just got a vote of confidence from Wedbush, which hiked its price target to $500, the highest on Wall Street. The firm sees Tesla as the sleeper AI stock calling it the most undervalued AI play on the market.
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$1 trillion upside: Wedbush says Tesla’s autonomous and AI tech could unlock at least that much in value.
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Big FSD push: Full Self-Driving is set to launch in Austin next month. Analysts think it could reshape Tesla’s business.
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$2T by 2026? That’s the bold forecast if Tesla’s AI bet pays off.
The firm points to Tesla’s upcoming Cybercab platform and potential tech licensing deals as hidden levers that could drive long-term growth. They even compare Tesla’s AI upside to giants like Nvidia (NVDA, Financials) and Microsoft (MSFT, Financials).
Elon Musk’s early 2025 political drama? Wedbush says it’s in the rear-view mirror. They see a more focused Musk doubling down on AI and robotics.
Yes, Tesla’s got issues in China and Europe especially with Model Y growth. But Wedbush says that’s not the story. The real story is AI. And they’re all in.
This article first appeared on GuruFocus.
