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RBC Capital Markets on Tuesday cut their price target on Tesla Inc. by 27% to $320 from $440 due to reduced expectations for its full self-driving software business as well as its robotaxi rollout in China and Europe.
RBC analyst Tom Narayan reiterated a buy rating on Tesla’s stock
TSLA, saying concerns over sharp sales drops in Europe and China are “overblown” and represent a smaller chunk of business than the U.S., which saw modest increases.
