Analyst believes Tesla is undervalued due to strong Q2 deliveries and upcoming Robotaxi Day.

From Nasdaq: 2024-07-08 05:19:04

Tesla surprised Wall Street with better-than-expected Q2 deliveries, showing signs of increased demand and momentum for EVs, especially in China. Robotaxi Day on August 8 could be a major catalyst for the company’s push towards full self-driving technology and autonomous vehicles, potentially making Tesla a trillion-dollar AI and robotics play, according to Wedbush analyst Daniel Ives. Despite Ives’ bullish outlook, the stock currently has a Hold consensus rating with an average target implying overvaluation. For more stock insights, check out TipRanks’ Best Stocks to Buy tool. Remember to conduct your own analysis before investing.



Read more at Nasdaq: Is Tesla the “Most Undervalued AI Play”? This Analyst Thinks So