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CNBC’s Jim Cramer shared his early thoughts on the market on Thursday, covering an upgrade on Tesla Inc (NASDAQ: TSLA) and the acquisition of Slack Technologies (NYSE: WORK) by Salesforce.com Inc (NYSE: CRM).
Cramer on Tesla: Goldman Sachs revalued the shares of Tesla went from neutral to buy and raised the price target from $ 455 to $ 780.
“I felt the guy’s pain,” Cramer said of the stock upgrade.
Goldman Sachs’ price target is currently the highest of any analyst. It comes after the bank downgraded Tesla in June due to demand issues. The bank said on Wednesday they were “incorrect”.
Cramer called the analyst note a “tough situation to upgrade here.”
Related Link: Tesla’s Valuation Easier to Justify As a Tech Company, Not an Automobile
Cramer on Salesforce: Cramer shared his thoughts on Salesforce and the stock fell after the announcement of its acquisition of Slack for $ 27 billion.
“Slack had a great quarter, got a lot of customers,” Cramer said.
He said that Salesforce can now Microsoft Corporation (NASDAQ: MSFT) with the deal: I think you have to. “
Cramer said the deal was a way for Salesforce to grow into a $ 500 billion company. He said Salesforce can help Slack make three times the amount of its current sales.
Slack now has a bundled case against Microsoft, Cramer said, and he’s “very surprised people aren’t even looking at how Slack is performing.”
Price action: Tesla shares are up 4% to $ 590.71 pre-trade on Thursday. Salesforce shares are up 2% to $ 225.96.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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