Jun 20, 2023 10:28 pm | 1 minute read
Prominent market commentator Jim Cramer allegedly said, although investors should continue to own Tesla Inc (NASDAQ:TSLA) stock because of its tremendous growth potential, he also sees value in it Ford Motor Co (NYSE:F).
“I think there’s real value here at Ford, more value than the $14 share price reflects, even at this 4.25% yield,” Cramer said, according to a CNBC report. “Don’t get me wrong, you have my blessing to own Tesla. Yes, you can too, because it has incredible growth potential.”
Also Read: How to Buy Ford (FORD) Stock
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Price target: The market expert said part of Ford’s success may depend on whether the Federal Reserve decides to announce further rate hikes. At the same time, he believes Wall Street sees Tesla as a tech company that will be little affected by a slump in the overall economy.
“If I’m right about Ford, this stock could revisit that high of $25 it hit in January 2022,” Cramer said. “But what if I’m wrong? I have to tell you, I think the downside – I’ll call it minimal. That’s right, minimal. Investing is all about managing risk and reward. At these prices, I’ll take Ford.” Tesla any day, and believe me, I like them both.
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In fact, Tesla stock has significantly outperformed Ford stock this year. While Tesla shares are up 153.89% year-to-date, Ford shares are up 21.75% over the period, according to Benzinga Pro.
“I think American ingenuity and innovation is undervalued here at Ford, undervalued compared to Tesla and maybe even anything else that’s made in America,” he said.
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