Tesla rises after Barclays upgrades to 'overweight'

Tesla

26/10/2026 12:55

** Shares of EV maker Tesla TSLA.O rise 2.3% to $380.86 premarket after Barclays upgrades to "overweight" from "equal-weight"
** Brokerage says improvement in Tesla's core business, inflection in Robotaxi and the potential premium from a combination with SpaceX offers attractive risk/reward for the stock
** Raises PT from $370 to $450, implying an about 21% upside from stock's last close
** Musk confirms in SpaceX earnings call that independent board committees at Tesla and SpaceX SPCX.O are assessing a potential merger
** Deutsche Bank analysts say this dynamic may be the main driver of Tesla's stock going forward, likely putting a floor on the share price and essentially serving as a proxy for what premium it would take for a shareholder vote to pass
** TSLA has remained below its 200-day moving average since the beginning of July
** Among 48 analysts covering the stock, 24 recommend "buy" or stronger, 22 rate it "hold" and 2 "sell"; the median PT stands at $422.50 
** As of last close, TSLA down 17.23% YTD

(Reporting by Darshan Kumar in Bengaluru)
((darshan.kumar@thomsonreuters.com))