(Reuters) – Cathie Wood’s Ark Invest said it expects Tesla Inc’s share price to reach $ 3,000 by 2025.
Ark expects Tesla’s market capitalization to reach $ 4 trillion at best, according to a research note published here on Friday.
The investment management firm has set the price target for Tesla at $ 1,500 per share by 2025 and at $ 4,000 per share on a bull basis.
Last year, Ark Invest said it expects the company’s share to reach $ 7,000 per share, or $ 1,400, by 2024 if it is adjusted for the five-for-one share.
From last year, when Ark published its previous note on January 31, 2020, Tesla’s share has risen 400% to $ 654.87 since closing Friday.
Ark Invest has also increased the likelihood that the electric car manufacturer will operate fully autonomously within five years, saying the company’s net autonomous ride-hail revenue could reach as much as $ 327 billion by 2025. Tesla’s revenue from electric vehicles is expected to be between $ 234 billion. and by 2025 $ 367 billion.
Tesla is the largest investment fund and the fund operator Wood, Ark’s CEO, with a large value of $ 26.6 billion, and is a long-standing Tesla bull.
Reporting by Aakriti Bhalla in Bengaluru; edited by Jonathan Oatis