
Jim Cramer on Thursday applauded a bullish analyst call on Tesla Inc (NASDAQ:TSLA) from UBS, suggesting the electric vehicle manufacturer is years ahead of its competition.
What Happened: UBS analyst Patrick Hummel upgraded Tesla from Neutral to Buy and announced a $1,100 price target, citing increased production at the Gigi Shanghai factory, record backlogs, margin momentum and a structural competitive edge in the supply chain.