We recently published 9 Stocks Jim Cramer Talked About. Tesla, Inc. (NASDAQ: TSLA) is one of the stocks that Jim Cramer has been talking about recently.
Tesla, Inc. (NASDAQ: TSLA) caught the attention of investment bank UBS earlier this month after the bank reiterated its sell rating on the stock and maintained a $247 price target. As part of its study, UBS noted that it now expects the company to deliver 415,000 vehicles in the fourth quarter, down from an earlier estimate of 429,000 units. The bank added that previous trends indicate that Tesla, Inc. (NASDAQ: TSLA) stock reacts to overshoots or undershoots of consensus estimates, as opposed to buy-side estimates. Cramer, who previously noted that the company could become a significant player in the data center industry with its energy storage solutions, noted that UBS incorrectly believes that Tesla, Inc. (NASDAQ: TSLA) is an automobile manufacturer:
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“The UBS piece is very harsh and very sad for UBS. And I love UBS, but they see it as a car company and they have sales on it. They’re not a car company. That changed when it was at 250. When Dan Ives, who is very sartorially challenged, but not at all. When he did that as his own code red about Tesla, 250. Boom, they changed. The narrative changed. People who think it’s a car company, they don’t understand it, it’s a robot company. And now it’s an energy company. Because they’re going to understand, I think if anyone wants to understand the energy data center conundrum, it’s going to be Musk and autonomy, so stop thinking about it, look at this article, UBS, forecasts 415,000 cars, fourth quarter.
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Disclosure: None. This article was originally published on Initiated Monkey.
