Tesla Inc (NASDAQ: TSLA) is the “stock of the decade”, says MarketRebellion.com’s Jon Najarian after the EV maker reported strong results for its fiscal first quarter last night.
Najarian’s bull case for Tesla Inc stock
Najarian has many reasons for his confidence in Tesla, one of which, is the profit it makes out of regulatory credits. Speaking with CNBC’s Scott Wapner on “Halftime Report”, he said:
$1.0 million is Tesla gets from other automakers that have to buy their credits. That falls right to the bottom line. That’s pure profit. So, without legacy costs and with those credits, stock of the decade is what Tesla is.
Also on Thursday, Piper Sandler reiterated its “overweight” rating and dubbed Tesla a “must-own” stock. Other notable Tesla bulls, include Dan Ives, who has a price target of $1,400 on TSLA.
Eric Markowitz is also bullish on Tesla
On a separate CNBC interview, Worm Capital’s Eric Markowitz also echoed a similar view that Tesla is a great investment for the long term. He said:
We expect 50% compounded growth over the next several years for Tesla. We expect expanding margins. And we think that this is very early on in the Tesla story, really only the first or second inning.
Markowitz is convinced that Tesla will eventually deliver on its promise of launching Robo Taxis. Famed investor Jim Cramer also called the EV maker’s Q1 results a “tour de force”. The stock trades at a PE multiple of 206 at present.
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