The stock is up another $6.31 at $382.26.
Ron Baron: Tesla Will Hit $1,000 by 2020
The billionaire investor sees a lot of upside in Tesla.
Ron Baron, CEO of Baron Capital, thinks the sun will continue to shine on Tesla (TSLA). On CNBC's Squawk Box Tuesday morning, the billionaire investor said that shares could climb to about $500-$600 in 2018 and $1,000 in 2020.Our last comment on Mr. Chanos' position was in May 31's "Hedge Funds: SALT Conference Losing Luster":
Baron has a starkly different view of the car company than Kynikos Associates' Jim Chanos, who has been short selling the stock.
Shares climbed more than 2% in pre-market trading to around $367. Taking the midpoint of Baron's price-target range for next year that implies an upside of more than 50%; his 2020 price target implies upside of more than 170%.
By then, Baron said he expects the company to be generating some $70 billion in revenue and $10 billion in operating profits. Tesla expects to be selling a million cars annually by then.
Tesla is the fifth largest holding in the $252 million Baron Opportunity fund (BIOPX)....MORE
I don't think we even covered it this year although I did look at Chanos on Tesla.Looking at the last couple weeks on the chart above, yup, he was early.
He was early....
But, and that's a big but, the execution skill that will be required to hit the 500,000 and above production targets is almost otherworldly and I have a suspicion we will be violating our "Don't short Tesla" admonition in a big way.
If stock is available.
And doesn't cost 100% per year to get hold of.