Barclays Upgrades Tesla to Overweight on Potential SpaceX Merger Speculation
Barclays has upgraded Tesla (TSLA) from equal weight to overweight, raising its price target from $370 to $450. The upgrade is driven by increasing speculation regarding a potential merger between Tesla and SpaceX, a move Elon Musk recently described as a "good idea" following the formation of committees at both companies to discuss a combination. Beyond merger rumors, analyst Dan Levy highlighted growth drivers in Tesla's core segments. These include an expected recovery in the automotive business supported by Full Self-Driving (FSD) demand and Giga Shanghai exports, as well as significant expansion in the Energy business due to data center demand. Additionally, improvements in robotaxi mileage suggest Tesla is gaining competitive ground against rivals like Waymo.
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Topics: Electric Vehicles Merger Rumors SpaceX Merger Stock Upgrade