RBC lifts Tesla stock price target on Robotaxi business potential By Investing.com
RBC Capital set a higher price target for Tesla (NASDAQ:) shares Tuesday, raising it to $236 from the previous $224, while maintaining an Outperform rating on the electric vehicle manufacturer.
The adjustment comes in anticipation of Tesla’s Robotaxi day, an event that the firm believes is significant due to the business potential it unveils.
“For the first time, it will highlight a business that represents $153B of Revenue for Tesla, 63% of our valuation,” said the analysts.
The optimism around this service is rooted in the expectation that Robotaxis could generate a staggering $1.7 trillion in global revenues by the year 2040.
The RBC Capital analyst pointed out that the Robotaxi market is expected to be competitive, with various…
