12 AI Stocks on Wall Street’s Radar

9. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 126

Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives. On April 16, Piper Sandler reiterated the stock as “Overweight” and cut its estimates on the stock from $450 to $400. Tesla’s first-quarter financials are expected to be disappointing, with deliveries falling short of expectations.

Consequently, margin concerns are justified for the electric vehicle maker. Since there isn’t enough information on Tesla’s “Model 2,” the firm has revised its estimates as well. Nevertheless, the firm is quite optimistic that Tesla’s developments may lead to sharp rallies, particularly the advancement of its robo-taxis.

“We’re cutting our estimates to reflect this outlook, and our price target is now $400, down from $450. However, while our 2-3 month outlook leans bearish, remember that TSLA can rally sharply whenever ‘big picture’ catalysts emerge.”