“We think it’s a fantastic car, one that folks who buy premium vehicles will love to have. It handles well. It’s got great power. And it meets the range criteria for most drivers,” he says.
And he thinks the growth potential is enormous.
“The addressable market for premium cars is about 2.5 million vehicles,” Rusch tells us. “And our projection for 2013 is sales of 21,000 for Tesla. That gives them less than 1% of the market globally.”
Rusch has a buy rating on the stock and a $39 prices target.
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to email@example.com.
Trader disclosure: On Apr 16, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long CSCO; Pete Najarian AAPL ; Pete Najarian BAC CALLS; Pete Najarian C; Pete Najarian JPM CALLS; Pete Najarian MS; Pete Najarian INTC; Pete Najarian YHOO; Pete Najarian SBUX CALLS; Pete Najarian COP; Pete Najarian PEP; Pete Najarian HPQ; Pete Najarian HD CALLS; Karen Finerman is long AAPL; Karen Finerman is short AAPL CALLS; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long RIMM CALLS; Karen Finerman is long HPQ; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU
For Colin Rusch
ThinkEquity LLC makes a market in TSLA
For Scott Nations
Scott Nations is long BAC
Scott Nations is long C
Scott Nations is long SPY
Scott Nations is long TIVO CALLS
For Amelia Bourdeau
Nothing to Disclose
For Brian Marshall
Neither ISI nor its affiliates beneficially own 1% or more of any class of common equity securities of the subject companies referenced in the Report. No person(s) responsible for preparing this Report or a member of his/her household serve as an officer, director or advisory board member of any of the subject companies. No person(s) preparing this report or a member of his/her household have a financial interest in the subject companies of this Report. At various times, the employees and owners of ISI, other than those preparing this Report, may transact in the securities discussed in this Report. Neither ISI nor its affiliates have any investment banking or market making operations. No person(s) preparing this research Report has received non-investment banking compensation from the subject company in the past 12 months. ISI does and seeks to do business with companies covered in this research Report and has received non-investment banking compensation in the past 12 months: AAPL
CNBC.com with wires.