(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 up to $ 4 trillion at best, according to a research note published here on Friday.
The investment management firm set the target price for Tesla at $ 1,500 per share down by 2025 and $ 4,000 per share up.
Last year, Ark Invest said it expected the company’s stock to reach $ 7,000 per share, or $ 1,400 when adjusted for its five-by-one split, by 2024.
Since last year, when Ark published its previous note on January 31, 2020, Tesla’s shares have risen up 400% to $ 654.87 at the close of Friday.
Ark Invest also increased the likelihood that the electric car maker will reach a fully autonomous direction in five years and said that the company’s net autonomous travel revenue could reach $ 327 billion in 2025. It expects electric vehicle revenue Tesla will reach somewhere between $ 234 billion and $ 367 billion in 2025.
Tesla is the largest holding company of the lucrative $ 26.6 billion of the publicly traded fund ARK Innovation and fund operator Wood, Ark’s chief executive, has long been a Tesla bull.
Reporting by Aakriti Bhalla in Bengaluru; edition by Jonathan Oatis