On CNBC’s “Cramer’s Mad Dash” segment, TheStreet’s Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the stock is breaking out to the upside.
Some analysts are calling for higher earnings per share estimates; Deutsche Bank sees EPS above $9 in 2016.
If this turns out to be true and more analysts begin to move their targets higher, Tesla could easily be on its way to $300 per share, he reasoned.Turning to MannKind (MNKD), shares are spiking ~13% on news that it has struck a deal with Sanofi (SNY) for its insulin inhalant treatment. In the licensing agreement, Sanofi will pay $925 million and receive 65% of the future profits (or losses), while MannKind will retain 35%, Cramer said. This is good news for MannKind, and will force many of the short-sellers to cover their positions, he concluded.
-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell