We recently published 10 Stocks on Jim Cramer’s Radar. Tesla, Inc. is one of the stocks on Jim Cramer’s radar.
Tesla, Inc.’s shares are up by 28% year-to-date and by 39% since September 10th. December has seen several analysts focus on the firm. On the 19th, Deutsche Bank raised Tesla, Inc.’s share price target to $500 from $470 and reiterated a Buy rating. The bank pointed out that while it expects weak delivery figures for the fourth quarter, the overall narrative for robotaxi was robust. On the same day, Truist also raised its share price target for Tesla, Inc.. It set the new price target at $444, up from an earlier $406, and kept a Hold rating. Like Deutsche, Truist pointed out that the firm’s autonomy initiatives and the robotaxi will play a key role in its valuation. However, an interesting share by Tesla, Inc. on November 13th outlined the firm’s plans to use its Megapack batteries to power data centers. The release provided exposure to the firm when it came to the AI data center buildout in the US. Tesla, Inc. outlined that AI model training runs that used GPUs could fluctuate by as much as 90% and the Megapacks would help with it. The announcement hasn’t gone unnoticed by Jim Cramer’s radar either, as the CNBC TV host commented:
“Yes, and then you’re going to be hearing more about batteries soon. You’re going to hear about batteries that can actually help power the data center issue.”
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This article is originally published at Insider Monkey.
