In 2023, Ark Invest set a price target of $2,000 for Tesla for 2027. Then on Wednesday, the investment management firm announced a new price target of $2,600 for 2029. “ARK estimates that nearly 90% of Tesla’s enterprise value and earnings will be attributed to the robotaxi business in 2029,” the new open-source model reads. Ark lists a bear case price target of $2,000 and a bull case price target of $3,100 in the latest forecast. Ark also lists a price target of $350 for Tesla if it eliminates the robotaxi network from the model. The new price target forecast model breaks down Tesla’s 2029 revenue as being 63% from robotaxis and 26% from electric vehicles, with the rest coming from items like insurance and energy storage. The model predicts 2029 revenue of $1.2 trillion for Tesla. The model shows $440 billion in EBITDA for Tesla in 2029 with 86% of EBITDA coming from the robotaxis and 10% coming from electric vehicles. Ark predicts that Tesla will sell 5.8 million electric vehicl...