RBC Capital Tesla · TSLA

RBC Capital Reaffirms Outperform on Tesla, $440 Price Target

January 24, 2025 Analyst: Tom Narayan 1 min read Reproduced verbatim
Rating
Buy
Unchanged
Target
$440
Outcome
Reached
on September 24, 2025
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What the analyst said

RBC Capital analyst Tom Narayan reiterated an Outperform rating and $440 price target on Tesla (NASDAQ: TSLA).

“Post election, Tesla shares are up over 70%.

While we do think the new administration could help with federal deregulation of self- driving vehicles, ultimately, the success of Tesla’s autonomy ambitions, especially as it relates to robotaxis, will come from how well FSD develops.

Currently, while we do think the software is an excellent level 2+ product (probably the best in the industry), it is not clear that it will be ready for Level 4 camera-only robotaxi use near term.

That said, Waymo’s upcoming deployment of its service in Miami using its own app does suggest it could be possible for Tesla to capture a substantial market, particularly in the US, of a closed loop robotaxi service.

Near term catalysts could include FSD adoption increasing (which could translate to higher margins) near term. We think this could be helped with price cuts.

We maintain our $440 PT and Outperform rating.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

TSLA trades at $355. The 19 analysts who set a target in the last 3 months range from $24.86 to $500, with a median of $450. This $440 target is 2% below the median.

Since the note TSLA has moved −14% (from $412). The 12-month window closed on January 24, 2026.

Track record

This call✓ Target reached on September 24, 2025, 8 months after the note.

Firm track recordRBC Capital: 80% of its 10 targets at least a year old were reached within 12 months (#20 of 28 firms); on Tesla, 6 of 7. Accuracy ranking →

RBC Capital on Tesla

RBC Capital price targets on Tesla

8 calls from July 28, 2025 to July 27, 2026. The target went from $325 to $480 (+48%). The rating stayed Buy.

RBC Capital targetTSLA share price
  1. July 27, 2026Target cut from $500 (−4%)Buy$480
  2. July 7, 2026Target raised from $475 (+5%)Buy$500
  3. April 23, 2026Target cut from $480 (−1%)Buy$475
  4. April 22, 2026Target cut from $500 (−4%)Buy$480
  5. January 29, 2026Kept the $500 targetBuy$500
  6. October 23, 2025Kept the $500 targetBuy$500
  7. October 10, 2025Target raised from $325 (+54%)Buy$500
  8. July 28, 2025Earliest call shownBuy$325
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Other analysts on Tesla

JP MorganHold Kept rating and price target · Oct 16 $415maintained Yorkville IvesBuy Kept rating and price target · Oct 12 $500maintained Yorkville IvesBuy Initiated coverage · Oct 7 $500 UBSHold Raised price target +2%, kept rating · Oct 7 $391from $385 Goldman SachsHold Kept rating and price target · Oct 6 $360maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.