Tesla gains a new bull as Truist says AI innovation can 'turbocharge' growth
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Tesla (NASDAQ:TSLA) could get back to âturbochargedâ growth as it innovates in AI and EV production, per Truist analyst William Stein.
In an initiation note authored on Wednesday, Stein advised that Tesla (TSLA) has been a consistent success story, able to overcome significant obstacles. As the company seeks to tackle challenges in autonomous driving, AI, and computing services, Stein is confident in a similar success story to come.
âWe believe the companyâs best days in terms of volume production, product innovation, and especially AI innovations are still down the road,â he wrote in the initiation note.
He added that he feels margin upside potential is underappreciated as the company continues to grow. By 2030, he expects the company to be among the top 5 OEMs in the world. 
âWe expect Teslaâs (TSLA) unit share to capture the pole position among automotive manufacturers,â Stein said. âWe believe Tesla will deliver 10M units per year by 2030.â
He assigned a âBuyâ rating in initiating coverage of the stock alongside a $1000 price target. Shares closed at $711.12 on Wednesday.
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