# @benzinga on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/C8IWgvruJ3j
- **Gondola URL:** https://gondola.cc/posts/19004377-benzinga-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/28e6e8b9d0.jpg
- **Posted:** 2024-06-12T21:19:45.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

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 vehicles in 2029 with its bear case and 14.4 million units in its bull case.
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#tesla #arkinvest #cathiewood

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## Tags

cathiewood, tesla, arkinvest

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