Tesla Analyst Reaffirms $500 Target Amid FSD Progress, AI Sector Momentum
Tesla shares closed 2.17% lower at $395.23 despite early gains tied to Nvidia's AI-driven market rally. Piper Sandler's Alexander Potter maintains an Overweight rating and $500 target, citing 'truly impressive' advancements in Full Self-Driving technology.
The analyst noted Tesla's unique capacity to deploy software updates across millions of vehicles positions it ahead of competitors in the autonomous driving race. 'The system now outperforms the average American driver,' Potter observed after a Fremont facility visit.
This development comes as AI-related stocks, including crypto assets like FET, RNDR, and AGIX, show heightened correlation with tech earnings momentum. Market participants are increasingly viewing AI infrastructure plays and autonomous driving as overlapping investment themes.