RBC Capital analyst Joseph Spak lowered the firm’s price target on Tesla to $225 from $325 and keeps an Outperform rating on the shares. Tesla stock will likely remain under pressure as gross margin expectations re-calibrate, but once this occurs, Spak sees a compelling case for Tesla to drive earnings and free cash flow higher as the low cost leader and leveraging opex, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on TSLA:
- Why Tesla’s Business (NASDAQ: TSLA) Won’t be Slowing Down Anytime Soon
- Cathie Wood’s ARK Snaps Up TSLA After Musk’s Sell-Off
- Musk Punishes Tesla (NASDAQ:TSLA) Again for Twitter’s Cause
- A Tesla Phone Ahead of an Apple Car? Morgan Stanley Takes a Survey
- #SocialStocks: Republican lawmakers investigate heads of Twitter, Meta