RBC Lifts Tesla Price Target to $500 on SpaceX Premium, Q2 Beat

On July 9, RBC Capital reaffirmed its July 7 upgrade, raising Tesla’s price target to $500 from $475 while keeping an Outperform rating. The firm cited a potential all-stock SpaceX acquisition at a 25–30% premium and a higher robotaxi valuation as key drivers, with standalone intrinsic value set at $435. Tesla’s July 3 launch of the Long Wheelbase Model Y and Q2 deliveries of 480,100 vehicles—18% above consensus—further bolstered sentiment in the developing story.