UBS' Tesla (TSLA) Coverage is "Sad," Says Jim Cramer

We recently published 9 Stocks Jim Cramer Talked About.  Tesla, Inc. (NASDAQ:TSLA) is one of the stocks Jim Cramer talked about recently.

Tesla, Inc. (NASDAQ:TSLA) came under the attention of investment bank UBS earlier this month after the bank reiterated a Sell rating on the shares and kept a $247 share price target. As part of its coverage, UBS pointed out that it now expects the firm to deliver 415,000 vehicles in the fourth quarter, which was down from an earlier estimate of 429,000 units. The bank added that previous trends indicate that Tesla, Inc. (NASDAQ:TSLA)’s shares react to beats or misses against consensus estimates as opposed to buy-side estimates. Cramer, who previously remarked that the firm can become an important player in the data center industry via its energy storage solutions, remarked that UBS incorrectly believes that Tesla, Inc. (NASDAQ:TSLA) is a car company:

“The UBS piece is, it’s very tough and very sad for UBS. And I love UBS but, they’re viewing it as a car company and they have a sell on it. It’s not a car company. It changed when it was at 250. When Dan Ives, who sartorially is very challenged, but not challenged at all. When he did that like code red of his own code red about Tesla, 250. Boom, they switched. The narrative switched. People who think it’s a car company, are not understanding it, it’s a robot company. And now it’s an energy company. Because they’re going to figure out, I think that if anyone’s’s going to figure out the data center conundrum about energy, it’s going to be Musk. And self drive, looking good. So stop thinking of it, look at this piece, UBS, forecast 415,000 cars, fourth q deliveries, I mean, he’s still stuck. . .just stop calling it a car company. . .”

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