RBC Capital Keeps ‘Outperform’ Rating on Tesla

RBC Capital analyst Tom Narayan reiterated on October 23, 2025, a $500 price target on Tesla, with an ‘Outperform’ rating on the stock.

“Tesla’s Q3 performance was driven by strong car deliveries, aided by expiring EV credits in the US and demand in China, with higher volumes expected without compromising profits.

Management highlighted progress on robotaxis, aiming for expanded operations across metro areas by year-end and increased FSD adoption globally.

Optimus development remains a significant challenge, but we believe Tesla’s manufacturing scale and vertical integration provide a competitive edge in bringing humanoids to market.”

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