Tesla To Hit 550% Growth By 2030, Says Fund Manager David Baron: Elon Musk Is 'Not Going To Do Anything Stupid To Change The Trajectory'
Portfolio Pulse from Anan Ashraf
Fund manager David Baron predicts a 550% increase in Tesla Inc.'s (NASDAQ:TSLA) stock value by 2030, with an interim target of $300 within the next 12 months from its current price of $183.25. Despite Tesla's lower growth rate outlook for 2024 and a 13.6% stock fall since Monday, Baron remains optimistic, citing Elon Musk's leadership. Baron's fund, which holds Tesla and SpaceX as its largest assets, outperformed the S&P 500 in 2023. He also forecasts significant valuation increases for SpaceX over the next five years.
January 27, 2024 | 7:35 am
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David Baron forecasts a 550% increase in Tesla's stock value by 2030 and a rise to $300 within 12 months, despite a recent decline and cautious 2024 outlook.
Baron's positive outlook and the specific price targets provided for Tesla's stock suggest a strong potential for growth, which could influence investor sentiment and drive short-term price increases. However, the recent stock decline and cautious 2024 outlook introduce some uncertainty, hence the confidence score is not at the maximum.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100