Tesla rises about 6% after Barclays upgrade to Overweight, $450 target, citing possible SpaceX combination
Barclays lifted Tesla to Overweight from Equal Weight with a $450 target, pointing to a potential SpaceX merger and a return to auto growth; Tesla traded near $395.
Barclays analyst Dan Levy upgraded Tesla (TSLA) to Overweight from Equal Weight on Monday and raised his price target to $450 from $370. The shares climbed about 6% to near $395 by early afternoon, one of the largest moves among megacap stocks.
| Item | Figure |
|---|---|
| New rating | Overweight (from Equal Weight) |
| Price target | $450 (from $370) |
| TSLA intraday | About +6%, near $395 |
| Implied upside to target | About 14% |
How to read it: the target is only moderately above the current price, so much of the move reflects the change in rating and the merger angle rather than a big valuation reset.
Why it matters: The upgrade leans on a possible Tesla–SpaceX combination, which Elon Musk confirmed last week is being studied by special committees at both companies, while stressing that no deal is certain. Barclays sees a potential takeover premium for Tesla holders, plus a pickup in car sales from Full Self-Driving adoption and more exports from Shanghai. A merger would join a public carmaker with a newly listed rocket and satellite company, raising governance and valuation questions both boards must work through.
Market reaction: Tesla’s gain helped the Nasdaq lead Monday’s rebound; other EV makers Lucid and Rivian slipped. See all Tesla coverage at /en/topics/tesla/.
What to watch next: Any formal statement from the Tesla or SpaceX committees, and this week’s Fed decision for the rate backdrop on high-valuation growth stocks.
Sources
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