11 Stocks on Jim Cramer’s Radar

3. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holdings: 120

Electric vehicle giant Tesla, Inc. (NASDAQ:TSLA)’s shares are up by 6.4% over the past year and are down by 1.7% year-to-date. Truist slightly trimmed the share price target to $438 from $439 and kept a Hold rating on the shares in January. The bank pointed out that Tesla, Inc. (NASDAQ:TSLA) was changing its business strategy by discontinuing the production of its Model S and X cars and integrating AI-related targets into its calendar year 2026 targets. Needham also reiterated a Hold rating for the shares following the fourth quarter earnings. It outlined that Tesla, Inc. (NASDAQ:TSLA) was benefiting from geographic diversity and autonomy strengths in the form of robust margins. As for Cramer, the CNBC TV host continues to be a believer in the firm as he holds the opinion that Tesla, Inc. (NASDAQ:TSLA) is more of a technology company than a car company. In this appearance, he discussed the trading patterns for the shares and narrative building:

“Now look, there’ll be people who come out the moment that Tesla’s down a little. We have a parade of analysts and investors who like to come on air and basically just, pump it. They don’t dump it. So I think it’s okay. But I am a big believer in Tesla, I think that the robot story is big. I don’t believe that the Chinese are so much better than us that we should just lay down and accept their hegemony.”