Barclays upgrades Tesla to Overweight and lifts price target to $450, citing a potential SpaceX merger
Barclays raised its rating on Tesla to Overweight and increased its price target from $370 to $450. The upgrade reflects the bank’s view that a likely merger with SpaceX would add a premium to the stock, while Tesla’s auto and energy businesses are showing renewed growth and its Robotaxi fleet is seeing a sharp rise in miles driven. Barclays analyst Dan Levy highlighted the merger as a central part of the bullish case for Tesla.
Why it matters
Barclays’ higher price target suggests roughly 21% upside from the current price, offering investors a potential upside from a merger premium. The rating upgrade may also lift market sentiment and support the recent 2% pre‑market share rise.
Key facts
- 1Barclays upgraded Tesla to Overweight from Equalweight. investing.com
- 2Barclays raised its price target to $450 from $370. investing.com
- 3Barclays cited a potential merger with SpaceX as a key driver of upside. finance.yahoo.com
- 4Barclays noted early signs of a Robotaxi inflection with a sharp increase in miles driven. finance.yahoo.com
- 5Barclays expects Tesla’s auto business to grow this year after two years of declines. finance.yahoo.com
- 6Tesla shares rose about 2% in pre‑market trading after the upgrade. finance.yahoo.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.