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A tale of two "T's" as Twitter & Tesla trade higher

Tesla Twitter
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Call it a tale of two "T"s.

investors and traders keeping extremely close tabs on shares of Twitter and Tesla Thursday.

Twitter's next CEO thought to be a main topic of discussion at today's board meeting, as the drumbeats sound louder for the directors to take action.

Twitter co-founder Jack Dorsey became interim CEO in June after the resignation of Dick Costolo. Since that time the stock has plummeted 22 percent.

Despite the clamor for new leadership, James Cakmak, equity analyst at Monness, Crespi, Hardt & Co, continues to have a buy rating on Twitter and a price target of $35 dollars.

Read MoreTwitter will have a tough time finding a new CEO

Cakmak told CNBC's "Power Lunch" Thursday "We have been on the sidelines on Twitter since our initiation, but with the shares back to nearly the IPO price of $26, we believe now is the time to pivot to a positive outlook on the stock. The risk-reward warrants being constructive on the stock with about 15 percent downside to $22-$23 and nearly 100 percent upside to $50."

Cakmak points to Twitter's "unparalleled" real-time content as a catalyst for his bullish call.

"When evaluating the future of advertising, two words are top of mind: mobile and native," said Cakmak. "We see Twitter's platform as among the best positioned to capitalize on this trend, along with Facebook, Pinterest, LinkedIn and Snapchat, even better than Google."

Cakmak and his family have no financial interest in Twitter. The firm and have no ownership or potential conflicts either.

Shares of Tesla continued Wednesday's after-market rise, when CEO Elon Musk tweeted details about its long- awaited crossover SUV, the Model X.

Brad Erickson, equity analyst at Pacific Crest Securities, has a hold rating on Tesla. The firm does not have a price target on sector-weight-rated stocks.

Read MoreTesla Signature Model 3, Model X

"We're still yet to actually see the final car, but early indications look like it will meet the market expectations. Pricing difference of $5,000 is in-line with our expectations, and isn't surprising to have them launching a Signature series at first. Nice way to show off the best version of the car while also front-loading some margin bump associated from the higher pricing."

Pacific Crest expects to receive or intends to seek compensation for investment banking services from Tesla Motors within the next three months.

As of the date of Erickson's report, Cowen & Co. made a market in Tesla Motors. Erickson and his family do not have any financial interest in Tesla.

CNBC's Jackie O'Sullivan contributed to this article