Hedge funds favor Tesla; TD Cowen maintains Buy rating and $330 price target

Tesla, Inc. is among the best FAANG stocks according to hedge funds. TD Cowen maintained its Buy rating and $330 price target for Tesla ahead of its Q2 delivery report, despite trimming its delivery estimate to 362,000 vehicles from 400,000.

The firm also decreased its Q2 earnings per share estimate from $0.37 to $0.33 based on the lower delivery prediction, but kept its longer-term earnings forecasts for Tesla intact. Tesla is known for its electric vehicles and clean energy solutions.

While Tesla is a solid investment, some believe other AI stocks offer greater potential. A report highlights an undervalued AI stock that could benefit from Trump-era tariffs and the onshoring trend. Tesla remains a prominent player in the clean energy sector.

Read more at Yahoo Finance: Tesla Q2 Delivery Estimate Trimmed; TD Cowen Reaffirms Buy Rating