Tesla price target raised to $223 from $186 at RBC Capital

RBC Capital analyst Tom Narayan raised the firm’s price target on Tesla to $223 from $186 and keeps an Outperform rating on the shares. Tesla is demonstrating they can spur demand growth while maintaining margins above 20%, a positive for the near- and long-term outlook, the analyst tells investors in a research note. While competition is responding, the firm wonders abut the longer-term sustainability of competitor price cuts given more challenging profit margins.