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Tesla Q2 Margins Disappointing, SpaceX Collaboration in Focus, RBC Says

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Tesla's (TSLA) Q2 margins were disappointing on non-recurring items, pricing pressure, and research costs tied to Optimus and Robotaxi ramps, RBC Capital Markets said in a note Wednesday.

Still, a key takeaway from Q2 results was the deepening SpaceX integration across Terafab, Starlink-Cybercab connectivity, and Digital Optimus, the report said.

For Robotaxi, Tesla is prioritizing regulatory breadth across seven US markets over unit scaling, it added.

RBC kept its outperform rating and a $500 price target, which includes a potential SpaceX acquisition scenario of Tesla at some 30% premium to current trading levels.

Price: $322.11, Change: $-51.91, Percent Change: -13.88%

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