From Nasdaq: 2024-06-20 05:47:00

Cathie Wood, known for her bold predictions, maintains a $2,600 price target for Tesla by 2029, citing growth in the robotaxi business. This contrasts with Tesla’s struggles in 2021, down 54% from its peak. Wood’s optimistic forecast factors in robotaxi revenue comprising 63% of Tesla’s total by 2029.

Wood’s $2,600 price target for Tesla hinges on the success of the company’s robotaxi network, projected to generate 86% of earnings in 2029. Wood forecasts Tesla’s revenue composition to heavily favor robotaxi services over electric vehicles and other areas. Her case assumes an 80% take rate for Tesla’s robotaxi fleet.

While Wood’s Tesla price target appears ambitious, reaching it would require a 14-fold increase over five years. Past predictions by Wood have proved accurate, but uncertainties surround Tesla’s future initiatives like the robotaxi network. Investors should approach Wood’s forecast with caution and consider all variables impacting Tesla’s performance in the market.



Read more at Nasdaq: Cathie Wood Just Put a $2,600 Price Target on Tesla. With the Stock Down 54% From Its Highs, Is Now the Time to Buy?