Tesla Inc. (NASDAQ:TSLA) is navigating rocky market terrain, with its stock price slipping nearly 12% in the past month.

Despite the dip, analysts like Morgan Stanley’s Adam Jonas remain upbeat. The analyst raised his price target to $430 and reiterated Tesla as a “Top Pick” for investors Monday.

Tesla Stock Price Target Raised By Morgan Stanley

The bullish move is anchored on Tesla’s expansion into autonomous rideshare and embodied AI sectors — a game-changing frontier for the EV giant.

Jonas highlighted Tesla's unique advantages, noting, "We see embodied AI as the driver for upside to the revised $800 bull case." Tesla’s integration of robotics, AI, and energy storage — boosted by Elon Musk's cross-company synergy with SpaceX and xAI — positions the company as a standout player in the evolving global mobility market.

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Tesla Stock Chart Signals Mixed Bag

Chart created using Benzinga Pro

Technically, Tesla presents a conundrum. While its price of $387.90 falls below both the eight-day ($397.07) and 20-day ($423.36) simple moving averages (SMAs), signaling a short-term bearish signal, the long-term view is more optimistic. The 50-day SMA at $367.59 and a significantly lower 200-day SMA at $246.63 suggest buying momentum.

Tesla's MACD (moving average convergence/divergence) indicator at 5.40 and an RSI (relative strength index) of 46.92 hover in neutral territory, leaving traders on edge about the stock's next move.

Robotaxi Expansion: The Next Frontier

Tesla's mobility ambitions aren't just hype. Jonas believes the company’s autonomous rideshare services will drive high-margin, recurring revenue streams. "The >1 billion miles traveled per day we forecast Tesla will achieve by 2030 positions it uniquely," Jonas remarked, underscoring Tesla’s ability to leverage its fleet data to stay ahead in the competitive autonomous vehicle landscape.

While the stock's immediate path remains murky, Tesla's futuristic gambit on embodied AI and robotaxi fleets has bulls betting on long-term gains. Investors, it seems, are strapping in for the ride.

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Photo: Courtesy Tesla