Cathie Wood Thinks This Artificial Intelligence (AI) Stock Can Soar by 1,082%. Here's Why I Think It Could Run Even Higher Than That.
2024 has been a tumultuous year for (NASDAQ: TSLA) investors.
For the first six months of the year, its shares drastically underperformed the S 500 and Nasdaq Composite as the stock cratered by roughly 20%. Nevertheless, longtime Tesla bull Cathie Wood of Ark Invest recently revised her price target for the EV stock. Wood is calling for Tesla shares to reach $2,600 by 2029 -- 1,082% higher than its recent level.
While some investors may argue such a forecast is outlandish, I personally think Wood may be underestimating Tesla's prospects.
Source Fool.com
Tesla Inc Stock
€201.15
-6.300%
Currently there is a rather positive sentiment for Tesla Inc with 72 Buy predictions and 28 Sell predictions.
As a result the target price of 246 € shows a positive potential of 22.3% compared to the current price of 201.15 € for Tesla Inc.
