Why Cramer Expects Tesla And This FAANG Stock 'To Be The Two Stars Of This Quarter'

Tesla Inc TSLA was featured on Jim Cramer's "Mad Dash" segment Thursday on CNBC.

What Happened: Jefferies analyst Philippe Houchois maintained Tesla with a Buy rating and raised the price target from $850 to $950.

Cramer's Take: "It isn't just enough that [Elon] Musk builds superior cars ... one of the things that Jefferies liked here is that they have become the best semiconductor sourcer in the group," Cramer said. "This is a magical quarter that is occuring."

Tesla recently announced preliminary production and delivery numbers in which the company reported it delivered 241,300 vehicles in the third quarter.

Tesla's stock is breaking out following the better-than-expected delivery numbers and Cramer expects it to take out its all-time highs.

"I've been positive on Tesla since $200 ... ever since I drove one," he said.

See Also: Why This Tesla Analyst Sees 16% Upside In Shares Ahead of Q3 Earnings

Netflix Too? Cramer told CNBC that Tesla and Netflix Inc NFLX are going to be the two stocks that really shine during this quarter.

"Netflix and Tesla are going to be the two stars of this quarter because they are exciting," he said.

Netflix is trading higher as the popularity of "Squid Game" continues to increase and Tesla just opened its Gigafactory in Berlin, Cramer noted.

"These are the two [stocks] that I think hedge funds are going to gravitate to."

Netflix is set to announce its third-quarter financial results on Oct. 19. Tesla will announce its third-quarter financial results on Oct. 20.

TSLA, NFLX Price Action: At time of publication, Tesla was up 1.66% at $831.88 and Netflix was down 0.67% at $629.54.

Photo: courtesy of Tesla.