RBC Hikes Tesla Price Target to $500 on July 7, Targeting 22% Upside Amid SpaceX Merger Speculation

According to RBC, on July 7, the bank raised Tesla's price target to $500, implying approximately 22% upside from current levels, citing potential synergies with SpaceX. Analyst Tom Narayan highlighted three key cooperation drivers: the Terafab chip manufacturing project, SpaceX's reliance on Tesla's Megapack energy storage products, and AI training collaboration between the two companies. RBC also initiated SpaceX coverage with a $225 price target, implying 48% upside potential. Tesla shares fell 4% while SpaceX dropped 6.8% on Tuesday, the same day SpaceX formally joined the Nasdaq-100 index.
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