Volkswagen common stock (VOW1.DE) is gaining around 12% today amid the positive market sentiment towards the company following the recent announcements of expansion in the electric car market. Following recent reports, Deutsche Bank lifted its price target on Volkswagen to €270 from €185 per share on Monday.
Volkswagen (VOW1.DE) common stock is marked in green and red, blue is preference stock (VOW3.DE) and yellow is DAX (DE30). Source: xStation5
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Create account Try a demo Download mobile app Download mobile appHowever, this is not the end. Tesla shares rose 5% during today's session after ARK Invest lifted its price target for the company's shares to $ 3,000! The fund points out that Tesla is currently the leader in autonomous car technology. Interestingly, despite the increase in the price target, ARK expects lower car deliveries from Tesla by 17% compared to previous forecasts. According to the fund, the price of $ 3,000 should be reached by 2025, which would increase the valuation to around $ 3 trillion. In contrast, "bearish" scenario assumes that the price would rise to $ 1,500 by then, in the absence of significant progress in autonomous car technology. Either way, this is twice the current share price. Nevertheless, the model on which the price target was calculated met with much criticism from many American analysts.
Tesla (TSLA.US) stock is trading 900% higher compared to March 2020 lows. At the highest point this year stock rose by 1,300%. The $ 1,500 or $ 3,000 target seems to be a long way off, although given the insane price rally we saw last year, the levels seem to be attainable. Source: xStation5
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