Tesla will have a ‘substantial rally’ if it can prove Wall Street wrong

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Shares of Tesla (TSLA) edged lower Friday after Barclays forecasted the mega-cap name would miss on delivery results.

Wall Street analysts expect Tesla to report third-quarter deliveries of 455,000 units, missing the consensus forecast of 463,000 units. Barclays maintained an equal weight (hold) rating on Tesla with a price target of $260 apiece — less than 2% upside from its Thursday’s trading level.

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CNBC’s Jim Cramer said Friday on “Squawk on the Street” that if Tesla can outperform the downbeat Barclays outlook then shares will likely go higher. “If Tesla is able to turn, then I believe we could have a substantial rally because this is a very negative piece,” the “Mad Money” host said.

The CNBC Investing Club does not own Tesla. It owns Ford (F), which has made electric vehicles a big part of its roadmap for the future.

Here’s a full list of the stocks in Jim’s Charitable Trust, the portfolio used by the CNBC Investing Club.



Source : CNBC