Jim Cramer Says He’s A Believer In Tesla (TSLA)

We recently published 11 Stocks on Jim Cramer’s Radar.  Tesla, Inc. (NASDAQ:TSLA) is one of the stocks on Jim Cramer’s radar.

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.”

While we acknowledge the risk and potential of TSLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TSLA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.