Tesla Stock Jumps 5% as Barclays Sets $450 Target on SpaceX…
By Abdelaziz Fathi
AI summary of the source article
Tesla shares jumped approximately 5% to close near $392 after Barclays upgraded the stock to Overweight and raised its price target to $450 from $370, citing potential upside from a SpaceX combination and operating growth.
Why it matters
These operating expectations matter because a merger premium alone cannot establish Tesla's long-term standalone value.
Key facts
- Barclays upgraded Tesla to Overweight from Equal Weight and raised its price target to $450 from $370.
- Tesla and SpaceX have formed independent special committees to examine a potential combination, though no terms have been agreed.
- Barclays expects Tesla's automotive business to return to growth in 2026 and noted energy storage orders for 2027 are nearly sold out.
Source excerpt · FinanceFeeds
Tesla stock jumped about 5% on Monday, October 26, closing near $392 after Barclays upgraded the electric-vehicle maker to Overweight from Equal Weight and raised its price target to $450 from $370. Analyst Dan Levy identified a potential combination with SpaceX as a key part of Tesla's bullish investment case, arguing that a transaction could deliver a premium to TSLA shareholders. The move follo…