Report
Tesla-SpaceX merger speculation gains traction with Barclays upgrade
CNBC reports Barclays upgraded Tesla to overweight, raising its price target to $450 from $370 amid merger speculation.
TLDR
A potential combination with SpaceX is central to Barclays’ bullish case for Tesla, CNBC reports. Analyst Dan Levy wrote that expectations of a premium for Tesla stock could drive it higher. Beyond a merger, he pointed to Tesla’s auto, energy and robotaxi businesses as possible growth drivers. Musk said committees at both companies had formed to discuss a potential combination, according to CNBC.
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