Tesla results driven by strong car deliveries, says RBC Capital

RBC Capital keeps an Outperform rating and $500 price target on Tesla (TSLA) after its Q3 results. The quarter’s 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, the analyst tells investors in a research note. The management also highlighted progress on robotaxis, aiming for expanded operations across metro areas by year-end and increased FSD adoption globally, the firm added.