(Reuters) – Cathie Wood’s Ark Invest said it expects Tesla Inc’s share price to hit the $ 3,000 mark by 2025.
Ark expects Tesla’s market capitalization to hit $ 4 trillion at best, according to a research note published here Friday.
The investment management firm set the target price for Tesla at $ 1,500 per share based on a bear by 2025 and $ 4,000 per share on a bullish basis.
Last year, Ark Invest said it expected the company’s stock to reach $ 7,000 a share, or $ 1,400 when adjusted to its five-for-one stock split, by 2024.
Since last year, when Ark published his previous note on January 31, 2020, Tesla shares rose as much as 400% to $ 654.87 as of Friday’s close.
Ark Invest also increased the likelihood that the electric car maker will achieve fully autonomous driving in five years, saying that the company’s net revenue from autonomous travel could reach $ 327 billion by 2025. Revenue from Tesla’s electric vehicles reach $ 234 billion. and $ 367 billion by 2025.
Tesla is the largest stake in the $ 26.6 billion ARK Innovation exchange-traded fund and fund operator Wood, Ark’s chief executive, has long been a Tesla bull.
Report of Aakriti Bhalla in Bengaluru; edited by Jonathan Oatis