Global leaders want to put millions of electric vehicles (EVs) on the roads. President Biden, for example, wants 51% of all new autos to be electric by 2030. Even the International Energy Agency (IEA) believes we could see EV sales reach 14 million this year from 10 million in 2022. And one of the companies that should continue to do well is Tesla (TSLA).
Even with intense competition, it’s still one of the hottest EV stocks on the market. In fact, since May, the EV pure-play has more than doubled… and could still race even higher on news of its supercomputer that got Morgan Stanley analysts excited.
In fact, Morgan Stanley just upgraded the TSLA stock to an outperform rating, with a price target of $400. All thanks to Tesla’s new machine-learning supercomputer, which “is expected to elevate Tesla’s capacity to train neural nets using video data, which is critical to the computer vision technology powering its self-driving effort,” as noted by Electrek.co.