15 AI News Investors Shouldn’t Miss

2. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 99

Tesla, Inc. (NASDAQ:TSLA), an automotive and clean energy company, is using artificial intelligence to drive advancements in autonomous driving, energy optimization, and manufacturing innovations. On December 2^nd, Roth MKM upgraded Tesla to “Buy” from Neutral and raised the price target to $380 from $85. According to the firm, the company has abundant positive catalysts ahead that should fuel its revenue momentum as it transitions into next year.

“The stock is responding to the Trump bump. I don’t see very many negative catalysts if estimates are going to positive revisions. … Things are going to look a lot like they did 11, 12, 13 years ago, where they can literally invent their own milestones and knock them down”.

– Analyst Craig Irwin said on CNBC’s Squawk on the Street.

The company has been surging on factors such as an expanded enthusiast base and a potential market share recovery. Moreover, other factors that are helping the company’s growth include a more relaxed regulatory environment to accommodate its future robotaxi launch, its leadership in artificial intelligence through its self-driving software, and its commercial potential in robotics, particularly humanoid robots.

“Tesla is a large-cap company where the stock is behaving like an emerging growth company. Catalysts will play a primary role in valuation, in our view, as investors discount the longer-term served opportunity and projected earnings power”.

-Irwin