{"id":42716,"date":"2023-02-13T12:04:23","date_gmt":"2023-02-13T17:04:23","guid":{"rendered":"https:\/\/autosector.com\/?p=42716"},"modified":"2023-02-13T12:04:23","modified_gmt":"2023-02-13T17:04:23","slug":"tesla-stock-1500-dollars-share-2030-ron-baron","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=42716","title":{"rendered":"Tesla Stock Could Hit $1,500 A Share By 2030, Says Investor Ron Baron"},"content":{"rendered":"

This article comes to us courtesy of\u00a0EVANNEX<\/a>, which makes and sells aftermarket Tesla accessories. The opinions expressed therein are not necessarily our own at\u00a0InsideEVs<\/a>, nor have we been paid by\u00a0EVANNEX\u00a0to publish these articles. We find the company’s perspective as an aftermarket supplier of Tesla accessories interesting and are happy to share its content free of charge. Enjoy!<\/em><\/p>\n

Posted on<\/span>\u00a0EVANNEX on February 10, 2023,\u00a0by<\/span>\u00a0Peter McGuthrie<\/p>\n

Tesla\u2019s shares<\/a>\u00a0have been heading upward in recent weeks, and one analyst thinks the stock still has a lot of room for growth. On the heels of increased demand from\u00a0Tesla\u2019s recent price cuts<\/a>, some are looking toward the stock\u2019s upside for future years, especially as more consumers consider buying electric.<\/p>\n

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Above: Ron Baron on CNBC’s Squawk Box (Image:\u00a0CNBC<\/a>).<\/em><\/p>\n

Head of Baron Capital Ron Baron said that he thinks Tesla<\/a>\u2019s stock could hit $1,500 by 2030, as stated during a recent episode of\u00a0CNBC<\/em><\/a>\u2019s Squawk Box<\/em>. During the session, Baron said he wasn\u2019t concerned about volatility in the market, especially with current levels of consumer demand for Tesla\u2019s vehicles.<\/p>\n

Baron considers Tesla\u2019s current demand to be at historically high levels, and the 79-year-old veteran investor expects the company\u2019s stock price to keep going up in the years to come. Tesla makes up about 30 percent of the BPTIX portfolio, making it Baron\u2019s largest holding.<\/p>\n

\u201cDemand picks up so much, it\u2019s unprecedented demand for his cars right now,\u201d Baron said to CNBC during the recent segment of Squawk Box. \u201cWe started investing in his company in 2014, and they were doing 31,000 cars a year … he thinks 20 million cars by 2030. I\u2019m thinking $1,500 a share by 2030.\u201d<\/p>\n

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Baron\u2019s mutual fund has remained one of the greatest benefactors of Tesla\u2019s exponential growth in the past several years. With a total of $5.7 billion in managed assets, The Baron Partners Fund (BPTIX) has seen a five-year return of about 26.5 percent on Tesla\u2019s stock on an annualized basis, and a 10-year return of 20.9 percent. According to Morningstar, these figures make the fund the best-performing U.S. equity fund over the long-term period.<\/p>\n

\u201cI\u2019m not really worried about the stock market,\u201d Baron added. \u201cI don\u2019t worry about the market. I don\u2019t worry about the economy.\u201d<\/p>\n

As for his confidence in Tesla, Baron noted that Tesla has been called \u201cthe safest car ever built in the world,\u201d and he expects the automaker to put out a lower-cost model which he says will make the company worth seven to 10 times more down the road.<\/p>\n

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