Photo: Bloomberg News
Analysts at Rockefeller Capital Management have affirmed their buy rating on Tesla (NASDAQ: TSLA) as the company is the leader in the global electric vehicle market. As Tesla stock dips, the analyst group says: "any time you get the chance to buy it, buy it."
Michael Bapis, managing director of Vios Advisors at Rockefeller Capital Management, told CNBC on Tuesday that Tesla is a noteworthy name as the company has big ambitions in the electric vehicle, space, and clean energy markets. “Tesla is going to continue to be the leader in the industry, especially for the foreseeable future,” Bapis said on “Trading Nation.” “When you think Tesla, you think innovation,” he added.
The company will continue to deliver strong sales and profit growth, which will ultimately drive demand for the stock. “If you look at some of these institutional funds...and they don’t have this stock in there, they’re definitely going to get questioned why,” he said. Bapis added that since Tesla's stock price is now down, it is a great time to buy the dip. “Unless someone comes in and breaks through the difficult barriers to entry, you’re going to see this stock grow long term,” he said. "Any time you get the chance to buy it, buy it."
Bapis thinks now is the time to buy the manufacturer's stock and hold. He recommended briefly closing our eyes to volatility and paying special attention to the company's fundamentals and management. “I mean, you can’t get a better leader than they have,” said the investor.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.