Barclays Upgrades Tesla to Overweight, Sets $450 Target After Musk Merger Comments
Barclays has raised its rating on Tesla shares from Equal Weight to Overweight and lifted its price target to $450. The new target implies roughly 21% upside from Tesla's recent closing price. Analyst Dan Levy pointed to potential operational gains at Tesla and the possibility of a merger with SpaceX as key drivers of the upgrade. The merger idea gained attention after Elon Musk discussed it on a recent SpaceX earnings call, which lifted investor sentiment.
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