RBC Capital lowered the firm’s price target on Tesla (TSLA) to $227 from $293 and keeps an Outperform rating on the shares. The firm is reducing its outlook for the company’s robotaxi revenue contribution to $414B from $627B previously, allocating a bigger revenue share to service providers like Uber (UBER) and Lyft (LYFT), the analyst tells investors in a research note. RBC adds however that it still sees robotaxis being the biggest driver for its Tesla valuation model at 52%, followed by FSD at 27%, Megapacks at 15%, and Cars at 6%.
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