According to Piper Sandler, Tesla is growing in line with its lead in AI, lead in AI, lead in AI, despite “fast followers” trying to copy Chinese designs. Investment companies with overweight ratings in their stocks have increased their price target from $400 to $500. That means an increase of around 17% since the end of Friday. “Vertical integrated Chinese OEMs may be the threat of Tesla’s number one competition. However, when it comes to “real world” AI, these companies will look to Tesla for guidance. AI technology is enhancing Tesla’s Robo-Taxi Fleet and its Optimus Humanoid robots. For example, Tesla’s robot taxi business has already expanded to the Bay Areas of California and Austin, Texas. “At some point next year or so, I think investors will start focusing on the size of their FSD-equipped fleet, not on the number of new deliveries sold to the fleet every quarter,” Potter said. He added that the monetization of Tesla’s already-sold vehicles could drive EV makers’ evaluations. “It is true that fleet sizes rely on continuous sales, but regardless of new distribution trends, there are millions of existing Tesla vehicles on the roads Tesla can monetize,” Potter wrote. Piper Sandler’s latest Tesla Call is bullish, but Wall Street analysts are split into companies owned by Elon Musk. Twenty-four analysts rated Tesla with either a buy or strong buy, 19 analysts assigned a hold valuation to the stock, and 11 gave a performance or sell valuation. Tesla shares rose 1% in pre-market trading on Monday. Despite being hammered in April, its shares rose 5% per year.
