10 Best Manufacturing Stocks To Buy Now

2. Tesla Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 99

Tesla Inc. (NASDAQ:TSLA) is a prominent player in the electric vehicle (EV) and clean energy sectors, known for its innovative approach to sustainable transportation and energy solutions. Tesla designs and manufactures electric vehicles, battery energy storage systems, and solar products.

In 2024, Tesla Inc. (NASDAQ:TSLA) reported a 53% drop in net income to $7.091 billion, while revenues remained nearly unchanged at $97.690 billion. The company experienced a 6% decrease in electric vehicle sales, partially due to increased competition and reduced subsidies in key markets. However, Tesla Inc. (NASDAQ:TSLA)’s energy generation and storage segment grew by 67%, reaching $10.086 billion, reflecting the company’s efforts to diversify.

Despite these setbacks, Tesla Inc. (NASDAQ:TSLA) continues to invest in future growth areas, such as autonomous driving technology and more affordable EV models. CEO Elon Musk has announced plans to introduce autonomous vehicles in Austin by June and aims to produce several thousand humanoid robots by the end of 2025. These initiatives are part of Tesla Inc. (NASDAQ:TSLA)’s strategy to sustain its leadership in innovation and expand its market presence.

Morgan Stanley analyst Adam Jonas raised his Tesla price target from $400 to $430, maintaining an Overweight rating and calling it a “top pick.”