(NASDAQ: TSLA) shares got a boost following its first-quarter earnings report. Revenues declined 9% year over year and came in slightly below Wall Street's estimates, but the stock's slide heading into the report shows this negative outcome was already expected.

There are mixed opinions on Wall Street regarding where the stock goes from here, but RBC Capital remains optimistic on Tesla's future. Analyst Tom Narayan slightly lowered his price target from $294 to $293, but that's still significant upside from the current share price near $170.

Narayan is maintaining an outperform (buy) rating on Tesla after the company showed progress on two fronts.

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Source Fool.com