Tesla Soars 6% on Barclays Upgrade Calling SpaceX Merger “Key Part of the Tesla Bull Case”
Technology · First reported 26 Oct, 15:50 · Updated 19:06
Barclays upgraded Tesla to Overweight and raised its price target to $450 from $370, citing a possible SpaceX combination alongside expectations for Tesla’s other businesses.
- Barclays analyst Dan Levy raised the rating from Equal Weight to Overweight and the price target from $370 to $450; one report said Tesla shares rose 6%.
- The reports say Tesla and SpaceX have independent-director committees considering a possible combination, but no agreement has been announced and shareholders would need to approve a deal.
- Barclays also cited potential growth in Tesla’s car and energy businesses and increased Robotaxi activity; the reports present these as analyst assessments, not confirmed outcomes.
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