Tesla Motors Inc (NASDAQ:TSLA) is going to be a very powerful company, Jim Cramer remarked in a discussion about the electric vehicles manufacturer on CNBC.
Tesla Motors Inc (NASDAQ:TSLA), according to Cramer at the start of the discussion, is the subject of another upgrade, this time from Deutsche Bank.
“A lot of things are happening with Tesla. This is the second upgrade that we’ve seen. This is a recommendation change by Deutsche Bank saying, ‘an even steeper growth projection…we just upgraded to Buy’. But they’re talking about significant volume increases in Tesla,” Cramer said.
According to Cramer, Tesla Motors Inc (NASDAQ:TSLA) is going to be a very powerful company. Furthermore, he explained what he expects will happen in the meantime until we see whether or not this prediction becomes true.
“I mention this because a lot of people are betting against Tesla thinking that it’s the greatest short of all time. They compare it to the market size of Ford. They talk about how Ford makes more cars in a day. You know what, they [Deutsche Bank] are saying that this is going to be a very, very powerful company. There will be a lot of intellectual shorts today saying that this call is just a farce. But in the meantime, Tesla is breaking out. The technicians love it. I know that that shouldn’t matter. [However,] they are talking about earnings estimates going so high,” Cramer remarked.
Nonetheless, Tesla Motors Inc (NASDAQ:TSLA), the duo also explained, has its own fair share of bulls and bears. They said that the bulls are expecting earnings to skyrocket as production numbers go through the roof.
Meanwhile, apart from Tesla Motors Inc (NASDAQ:TSLA), Cramer also discussed with his partner the stock of MannKind Corporation (NASDAQ:MNKD).