(Reuters) – Cathie Wood’s Ark Invest said it expects Tesla Inc.’s share price to reach the $ 3,000 mark by 2025.
Ark expects Tesla’s market capitalization to reach $ 4 trillion at best, according to a research note released here Friday.
The investment management firm has set the price target for Tesla at $ 1,500 per bear-based share by 2025 and $ 4,000 per bull-based share.
Last year, Ark Invest said it expected the company’s shares to reach $ 7,000 per share, or $ 1,400, when adjusted for the five-to-one share by 2024.
Since last year, when Ark released its previous note on January 31, 2020, Tesla shares have risen by up to 400% to $ 654.87 since the close on Friday.
Ark Invest has also raised the likelihood that the electric car maker will achieve fully autonomous driving within five years, and said the company’s net autonomous revenue could reach $ 327 billion by 2025. Vehicle revenue is expected to grow. Tesla power plants to reach $ 234 billion. and $ 367 billion by 2025.
Tesla is the largest holder of the $ 26.6 billion ARK Innovation exchange traded fund, and fund manager Wood, Ark’s chief executive, has long been a Tesla bull.
Reporting by Aakriti Bhalla in Bengaluru; edited by Jonathan Oatis