RBC Capital Keeps Their Hold Rating on Tesla (TSLA)

RBC Capital analyst Joseph Spak maintained a Hold rating on Tesla (TSLAResearch Report) on July 13 and set a price target of $718.00. The company’s shares closed last Wednesday at $653.38.

According to TipRanks.com, Spak has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -7.0% and a 56.3% success rate. Spak covers the Industrial Goods sector, focusing on stocks such as Tenneco Automotive, American Axle, and Dana Holding.

Tesla has an analyst consensus of Hold, with a price target consensus of $611.60, implying a -8.8% downside from current levels. In a report issued on June 28, UBS also maintained a Hold rating on the stock with a $660.00 price target.

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Based on Tesla’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $10.39 billion and net profit of $438 million. In comparison, last year the company earned revenue of $5.99 billion and had a net profit of $16 million.

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Tesla, Inc. manufactures and sells fully electric vehicles, solar energy generation systems and energy storage products. It also operates a network of vehicle service centers and Supercharger stations. The company operates through two segments: Automotive and Energy Generation & Storage. Founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003, the company is headquartered in Palo Alto, CA.