"Tesla (TSLA) Was Fabulous," Says Jim Cramer

We recently published Jim Cramer Discussed These 12 Stocks & Wondered Whether He Should Melt Silver.  Tesla, Inc. (NASDAQ:TSLA) is one of the stocks that Jim Cramer discussed.

Tesla, Inc. (NASDAQ:TSLA)’s shares are up by 7.3% over the past year and are down by 7% year-to-date. Mizuho raised the firm’s share price target in late January. The bank kept an Outperform rating on the stock and raised the share price target to $540 from $530. The coverage for Tesla, Inc. (NASDAQ:TSLA) followed the car company’s fourth quarter earnings report. Needham also discussed the stock following the earnings report. It maintained a Hold rating on Tesla, Inc. (NASDAQ:TSLA)’s shares and discussed the firm’s car business and AI initiatives. It commented that a global presence was enabling the firm to achieve robust margins and added that the company was making good progress with its artificial intelligence initiatives. Cramer continues to believe that Tesla, Inc. (NASDAQ:TSLA) is a technology company, and in this appearance, he commented on CEO Elon Musk’s remarks about China:

“Oh my god Tesla was fabulous. . .loved it.

“That stock should be up very big and I’ll tell you why it should be up very big. Because that’s no longer a car company.

“They could just outsource the cars at this point.

“I was very depressed about the China part because when I looked at him I always think, I think we’re ahead, and he [Musk] just said, look, China is just, they’re smart people, we underestimate China. Now David, I think that a lot of people feel, wait a second, China may be a paper tiger. The government may not be as steady as we think. He just says listen, flat out, they’re fantastic.”

While we acknowledge the potential of TSLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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