Tesla's AI Projects to Drive Stock Value, Truist Says
MT Newswires Live
Yesterday
Tesla's (TSLA) near-term auto delivery data and earnings results are "decreasingly" relevant to its stock price amid a mixed Q3 performance, Truist Securities said in a report Thursday.
"Most of the value of the shares is tied up in AI projects including FSD, robotaxi, and especially Optimus," the report said. FSD refers to full self-driving.
"All of the AI projects are at once quite unproven (close to zero revenue), and potentially extremely valuable," it added.
Truist said it kept its hold rating due to a wide range of AI project outcomes while raising its price target to $406 from $280.
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