Why This Tesla Analyst Disagrees With Bearish Takes, Remains Bullish

Tesla Inc's TSLA conference call was less about the promise of the future and more about the tough realities of the present, Jim Cramer said Tuesday on CNBC.

Oppenheimer analyst Colin Rusch told CNBC he disagrees with Cramer's take. The conference call was forward-looking in terms of the subscription model for Tesla's full self-driving, he said.

"The real story here is around the recurring revenue model that is emerging for this company," Rusch said.

Related Link: Tesla's FSD Could Alone Be Worth Much More Than The EV Giant's Current Market Cap In a Decade: Analyst

Oppenheimer remains "very bullish" on Tesla, saying it's a technology company that's innovating and disrupting within the transportation sector.

The Oppenheimer analyst has an Outperform rating on Tesla with a price target of $1,036.

Tesla Earnings: Tesla reported quarterly earnings of $1.45 per share, which beat the estimate of 96 cents per share. The company reported quarterly revenue of $11.96 billion, which beat the estimate of $11.21 billion.

TSLA Price Action: Tesla has traded as high as $900.40 and as low as $273 over a 52-week period.

At last check Tuesday, the stock was down 3.4% at $635.25.

Photo: courtesy of Tesla.