Will Tesla Inc (NASDAQ:TSLA) Reach $566?

The Wall Street is getting bullish on Tesla Inc (NASDAQ:TSLA) amid the company’s plans for Model 3 and several other innovative projects. Earlier this month, Cathie Wood, CEO of ARK Invest, said in a program on CNBC that Tesla’s will be worth "multiples" of its current $51 billion market capitalization. The hedge fund manager said that the notion that Tesla Inc (NASDAQ:TSLA) is overvalued is wrong because the company is in a process of several projects that will add a lot of value in the future. One such project is Tesla Inc (NASDAQ:TSLA)’s upcoming driverless taxi service.

Baird analyst Ben Kallo recently gave a $566 price target for Tesla Inc (NASDAQ:TSLA) stock.

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