Tesla shares will hit $500 in 2025, longtime investor Ron Baron is predicting. He also reiterated his call that the electric-vehicle maker will reach $1,500 in 2030 , a 467% increase from Thursday’s close. His $500 target implies 89% upside. “There is a really big opportunity for growth,” said Baron, pointing to the fact that only 6% of cars are now electric and highlighting the opening up of Tesla’s charging stations. Tesla recently made deals with Ford and General Motors to allow the carmakers to use Tesla’s charging network . Baron first bought shares of Tesla in 2014. The chairman and CEO of Baron Capital invested $380 million and has made $4 billion, he said in an interview Friday on CNBC’s ” Squawk Box .” He cashed in about $1.5 billion a couple years ago when rebalancing his portfolio, he said. TSLA 5Y mountain Tesla’s 5-year performance Baron Capital now holds 17.5 million shares of Tesla, accounting for slightly less than 10% of the portfolio, he said. Baron also personally owns 5 million shares. Tesla shares have been on a tear, rallying more than 114% so far in 2023. That runup led longtime Tesla bull Adam Jonas, an analyst at Morgan Stanley, to downgrade the stock to equal weight from overweight on Thursday. But Baron said he’s a long-term investor. “It’s the same price that it was 3 years ago and the business is three times bigger,” he said. Tesla shares sank 65% last year.
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