Tesla (TSLA) stock is up today after Barclays upgraded the electric vehicle maker to overweight from equal weight and raised its price target to $450 from $370. The bank says a combination with SpaceX is heavily expected and should lift the shares.
As of 11:32 AM ET, Tesla was up 6.2% at $395.34, while the S&P 500 was up 0.8%.
Elon Musk said last week that a Tesla-SpaceX merger would be a “good idea” and that committees at both companies have been formed to discuss it
Barclays analyst Dan Levy expects Tesla’s auto business to grow this year after two years of declines
Tesla said last week that it is almost sold out of Megapacks for 2027 as data centers drive demand
Mizuho raised its price target to $460 from $450 last week
Barclays also pointed to a sharp jump in miles driven by Tesla’s robotaxis. Even after today’s move, the stock sits about 20% below its 52-week intraday high of $498.83 from December 2025. Last week, Tesla and SpaceX stocks were moving more in step than at any time since SpaceX’s IPO.
More stock moves are on our stocks page.
No deal has been announced, but Wall Street is starting to price Tesla like one is coming.
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