Replies to post #43184 on Tesla Inc (TSLA)

[Tesla thru the roof]

LOL it landed, it’s going to Mars.
Just another topic your wrong on.

[XFundManager]

Ark More Convinced On Tesla's Autonomous Strategy And Cathie Wood Says A New Price Target Is Coming Soon !!


Ark Investment Management Founder and CEO Cathie Wood has been one of the most notable bulls on Tesla Inc (NASDAQ:TSLA) over the years. She joined Benzinga's "Raz Report" Wednesday for an exclusive interview and shared her thoughts on Tesla.

Wood on Tesla: Wood highlighted Tesla's strong barriers to entry. The company has strong technology, a history of miles driven, over-the-air updates and battery technology, she said.

"Didn't think [the] company was going to run out of money," Wood said when discussing why she added more shares in 2018.

Wood has been very vocal about Tesla's future plans for autonomous driving and robotaxis: "Our conviction on its autonomous strategy has increased over last few months."


Tesla In Ark Funds: Tesla has been a strong performer for Ark Funds. The stock alone contributed a 320-basis point increase to the Ark Fund portfolio in 2019. Wood said the figure was even higher in 2020, but they're waiting on the exact number.

Tesla is the largest position in the Ark Next Generation Internet ETF (NYSE:ARKW) representing 9.3% of assets.
Tesla makes up 10% of the flagship Ark ETF, the Ark Innovation ETF (NYSE:ARKK).
The Ark Autonomous Technology and Robotics ETF (NYSE:ARKQ) has 10.2% of the assets in Tesla shares.
Tesla Valuation: Wood said Ark’s conviction for autonomous cars has increased. The CEO said the fund management company is working on a new price target for Tesla.

"Just finished our model," Wood said.

A new blog post will be issued soon from Ark Funds with the new price target: "Stay tuned," she teased.

Wood famously predicted shares of Tesla would hit $4,000. The target price was issued in 2018 and was hit on a split-adjusted basis in January 2021.

TSLA Price Action: Shares of Tesla closed down 5% to $653.20 on Wednesday.

[XFundManager]

Tesla stock price target more than doubled at UBS, as long-time skeptic sees EV leader ‘winning’ in software


Analyst Patrick Hummel kept his rating at neutral, but boosted his price target to $730 from $325

A long-time skeptic on Tesla Inc. ‘s stock, UBS analyst Patrick Hummel, has more than doubled his stock price target, saying the narrative is no longer about the company’s leadership in electric vehicles, it’s about “winning” in software.

Hummel raised his price target to $730 from $325, while keeping his rating at neutral. His new target has swung to be 20% above the average target of the 34 analysts surveyed by FactSet — $608.58 — from being 46% below it.

He has been neutral on Tesla since March 2020, after being at sell or not rated since at least December 2017.

Tesla’s stock TSLA, 0.47% slumped 4.8% to $653.20, the lowest close since Dec. 23, adding to Tuesday’s decline of 4.5%. After falling 14.9% in February, the worst monthly performance since it tumbled 21.6% in March 2020, it has now lost 26.0% since closing at a record $883.09 on Jan. 26.

Hummel said that while legacy vehicle makers who are now “all-in” on electric vehicles can challenge Tesla’s EV volume leadership, Tesla remains the undisputed technology leader in the space, most notably in software.

“This is the next battleground and main driver of valuation from here, in our view,” Hummel wrote in a note to clients.

He said becoming one of the largest and most profitable original equipment manufacturers (OEMs) by 2030 is worth about $200 billion in market value for Tesla, in his base case analysis. That leaves more than $400 billion in market value for everything else, he said. Tesla’s market capitalization as of Tuesday’s close was $658.9 billion.

“We think the lion’s share of this value can be generated by software, mainly autonomous driving,” Hummel wrote. “With that, Tesla has the potential to become one of the most valuable software companies.”