Tesla will be able to maintain its lead in electric vehicles throughout the decade, according to RBC Capital Markets. Analyst Joseph Spak has upgraded Tesla to outperform market performance, saying in a note to clients Sunday night that the electric carmaker will be able to fend off long-term competitors. long due to its supply chain investments. “As EVs enter phase 3 (everyone has EVs) in the mid-to-late decade, we believe the ability to deliver EVs will increasingly depend on the supply chain,” writes Spak. “While TSLA has been fairly secretive about the deals they’ve cut to supply raw materials, when we speak to those contacted, we believe they’ve done more than other OEMs. , software) is likely to succeed.” In the near-term, expectations have dropped enough that Tesla is likely to beat them and help the stock rally. “We believe bulls expect a print of ~250,000 effectively in line with our new 249k forecast. To date, Tesla stock has fallen 34% as a result of investors,” wrote Spak. Tesla has also been hit by the coronavirus shutdown in China, a key market for both production and sales for the automaker. RBC has slashed its target. price for Tesla from $1,175 to $1,100 New target about 58% higher than stock close on Friday – CNBC’s Michael Bloom contributed to this report.