Ron Baron predicts blue chips to double by 2030 ... and Tesla shares to do even better

To say billionaire investor Ron Baron, who oversees some $23 billion in assets, waxed bullish would be an understatement, particularly with all the jitters and negativity swirling around the stock market lately.

The 74-year-old founder of Baron Capital said that interest rates and oil prices will stay low for “a very long time,” and that the economy will grow “much faster” than it would have otherwise, bringing the market along for the ride. Hence, he sees the Dow DJIA, potentially taking out the 40,000 level by 2030.

A lofty target, sure, but for some perspective, both the Nasdaq COMP, and the S&P SPX, have more than doubled in the past 13 years.

Specifically, Baron shined his bullish light on Tesla. He said the stock could climb as high as $600 by next year and then all the way to $1,000 by 2020.

At last check, Tesla TSLA, shares were up more than 3% at $370. In other words, Baron is look for upside of more than 50% by 2018 and a full 170% in three years. That’s a big move considering how far Tesla has come already.

Baron said he expects the company to be generating some $70 billion in revenue and $10 billion in operating profits within that time frame.

Tesla is the fifth largest holding in the Baron Opportunity Fund BIOPX, +1.36% which first bought shares back in June 2014.

Source: Bloomberg

Jr Trader Z.Karadzhova

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