Electric vehicle checkpoint: Jim Cramer calls Tesla Cybertruck an “eye-catcher”
Jim Cramer didn’t mince his words when describing Tesla (TSLA) – Get the report Cybertruck, which is expected to go into production in 2022.
Cramer called the pickup an “eyesore” compared to Ford (F.) – Get the report electric F-150 flash. “I think this pickup will be a disaster. Its first disaster. I’ve seen one,” he said.
“I still like Tesla because I think the way their autonomous driving was handled was unfair. There are many more accidents involving drunk drivers. But I know this pickup will be a disaster, ”added Cramer.
Over at Echtgeld, contributor Stephen “Sarge” Guilfoyle talks about Tesla Bot, the semiconductor shortage and what it means to Tesla. Check out his investing insights and trading strategies in I Have a Fun Trade Idea for Tesla.
New Street analyst Pierre Ferragu said Tesla is “ahead of the curve” when it comes to solving the real world AI problem today, according to The Fly.
Ferragu said his belief is that Tesla will be seen as a winner in electric cars and clean energy over the next decade with long-term growth prospects.
This warrants an increased earnings multiplier in the 50 to 100 fold range, Ferragu said, and advances in real-world AI and self-driving skills “will certainly support that perspective and drive the multiple into the high end of that range.”
Ford shares rose 2.75% Tuesday after a report suggested the automaker doubled production targets for its F-150 Lightning amid increasing customer demand for the newly unveiled electrified truck.
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Reuters reported that Ford will target a production rate of 80,000 for the F-150 Lightning in 2024, up from an earlier estimate of 40,000. After the official market launch of the truck in the spring, around 15,000 units will be produced next year, reported Reuters.
Earlier this year, Ford announced that it would increase its EV investments to at least $ 30 billion by 2025 and create a new division called Ford Pro that will focus on commercial vehicles and government customers.
The company also unveiled a commercial version of its popular F-150 Lightning all-electric truck, the F-150 Lightning Pro, priced at just under $ 40,000 before President Joe Biden visited a manufacturing facility in Dearborn, Michigan.
Here is a list of electric vehicle stocks to check out:
Tesla rose Monday and gained another 2% on Tuesday after analysts at Deutsche Bank and New Street praised the electric vehicle maker’s efforts in artificial intelligence. On Tesla’s AI Day last week, Musk unveiled Tesla Bot, a humanoid robot, the prototype of which the company plans to present next year.
Musk said the 5 foot to 8 inch robot is “supposed to be friendly” but “probably won’t work” at first. “We have recognized Tesla’s efforts in the field of AI more,” said Deutsche Bank analyst Emmanuel Rosner, who reiterated his buy recommendation for the company. “By and large, Tesla outlined a very ambitious effort to develop a high-performance neural network with very scalable underlying computing and accurate and fast data labeling.”
TheStreet Quant Ratings rates Tesla as a hold with a rating of C.
Ford engine (F.) – Get the report Stocks slumped with General Motors last week (GM) – Get the report followed as investors reacted to the world’s largest automaker’s plans to cut production amid the ongoing shortage of semiconductor supplies. Ford, which revealed plans to temporarily close an F-150 assembly plant in Kansas City, told investors last month that “navigating these chip restrictions has led us to make important permanent changes to our business model.”
Toyota (TM) – Get the report, the world’s largest automaker, said it will produce around 360,000 cars worldwide over the next month, a 40% reduction from the most recent average, but promised to meet its fiscal 2022 target of 9.3 million. Volkswagen number 2 in the world (VWAGY) , meanwhile, warned that the “supply of chips will be very volatile and scarce in the third quarter” and said it could not rule out a cut in its production plan in the coming months.
Cramer said just because automakers are constrained by semiconductor shortages hasn’t stopped Ford from building vehicles that people can’t wait to buy when they’re available.
TheStreet Quant Ratings rates Ford as a Hold with a rating of B-.
General Motors posted weaker-than-expected second-quarter earnings last month, compared to a surprising profit for Ford as it warned it “will continue to see the impact of global semiconductor shortages this year,” rivals like Tesla has met Toyota and Volkswagen.
Ford sees a boost from investors disappointed with the cost estimate for GM’s expanded recall of its Chevy Bolt following a report by the National Highway Transit Safety Administration on the risk of high voltage battery fires that the automaker said over the weekend was US $ 1 billion -Dollars could reach is disappointed.
Cramer told Action Alerts PLUS senior analyst Jeff Marks that GM’s Chevy Bolt problems shouldn’t be carried over to other names in the EV sector, including Action Alerts PLUS, which Ford holds.
TheStreet Quant Ratings rates GM as a purchase with a rating of B.
Lordstown Motors shares (JOURNEY) – Get the report rose last week after the electric vehicle maker unveiled its endurance pickup truck at the Northeast Chapter of the American Association of Airport Executives’ annual conference.
The company drew cautious comments from analysts after it announced it would begin “limited production” of its electric pickup truck in September. Lordstown, which also posted a loss in the second quarter, said it will begin limited production of its Endurance pickup in late September.
TheStreet Quant Ratings has no rating on Lordstown Motors.
Nio shares listed in the United States (NOK) – Get the report rose 2% on Monday. The company’s ADRs had declined after a fatal collision with one of the Chinese electric vehicle maker’s ES8 SUVs.
Lin Wenqin, the founder of the branding company Meiyihao, died earlier this month after activating the autopilot navigation system in his NIO SUV, according to news reports from several Chinese media outlets.
The driver assistance functions of NIO are called NOK pilot and use cameras as the so-called eyes of the car.
TheStreet Quant Ratings rates NIO as a sale with an E + rating.
Shares in the Chinese electric vehicle manufacturer XPeng (XPEV) – Get the report rose sharply in the past week due to strong delivery results. XPeng said shipments rose 228% year over year to 8,040 in July and rose 22% from 6,565 in June. July was the second record month in a row. The electric car manufacturer delivered 6,054 P7 smart sedans and 1,986 G3 smart compact SUVs.
XPeng stock is down 18% over the past six months on valuation concerns. However, on Tuesday the company was trading 1.5% higher.
TheStreet Quant Ratings has not yet rated Xpeng.
Plug-in power supply
Portion of plug current (PLUG) – Get the report were higher last week after the hydrogen fuel cell maker reported above-estimates revenue in the second quarter and raised its gross booking estimates for the full year. The company reported a net loss of 18 cents per share for the second quarter on sales of $ 124.6 million.
Earlier this month, analysts at RBC Capital started coverage with an outperform rating and a price target of USD 42 per share. “The valuation of Plug Power is high, but its long growth path justifies the premium,” wrote analyst Joseph Spak in a research message to his customers. The company “offers access to the emerging hydrogen economy through its” comprehensive turnkey solution, “he said.
TheStreet Quant Ratings rates Plug Power as a sale with a rating of D.