RBC Capital has raised its Tesla (NASDAQ: TSLA) stock price target from $307 to $319, maintaining its Outperform rating.

Elaborating on his confidence in the stock, analyst Tom Narayan noted that the electric vehicle (EV) company met analyst expectations in regard to the number of cars delivered in Q2, while allso beating the industry’s quarterly energy storage sales averages:

“Tesla reported 384K in Q2/25 deliveries, in line with company-polled consensus. It also did 9.6 GWh of energy storage sales in the quarter, which did come in slightly below recent quarterly levels.” – Tom Narayan

Likewise, the company currently boasts a robust market cap of $959.23 billion, which reinforces its status as one of the leaders in the broader automotive sector.

The new Tesla stock price target is 8.5% above the average analyst prediction of $294, based on the aggregate ratings on TipRanks.

Tesla stock analysis

RBC Capital projects Tesla’s automotive gross margins, regulatory credits excluded, to reach 13.7% in Q2, just slightly above the consensus estimate of 13.4%. 

Looking ahead to the end of the year, however, it anticipates automotive gross margins (ex-credits) of 13.6%, which is slightly below the average forecast of 13.9%. 

In addition, RBC Capital predicts Tesla’s total vehicle deliveries will decline by 7% year-over-year, a slightly more bullish outlook compared to the broader market prediction of 8%.

Still, it bears mentioning that not all analysts share Narayan’s optimism. 

Dan Ives, for example, an analyst at Wedbush Securities known for his positive outlook on the company, noted that Tesla’s board ought to establish clear boundaries when it comes to CEO Elon Musk’s political activities, warning that the company is at a “tipping point” that could define its future.

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