Barclays upgrades Tesla, says SpaceX merger “now a key part of bull case”

Investing.com -- Barclays upgraded Tesla to Overweight from Equal Weight and raised its price target to $450 from $370, citing a potential merger with SpaceX, stronger core business trends and early signs of a Robotaxi inflection. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » "With a combination heavily expected, and with expectation for some premium to TSLA stock, we believe this should drive upside for the stock," analyst Dan Levy said in a note. But he said the narrative shouldn't rest on M&A alone, pointing to positives from Tesla's recent earnings call. Tesla shares rose about 2% in premarket trading Monday.