Barclays upgrades Tesla to Overweight and raises target to $450
Barclays upgraded Tesla stock on possible SpaceX combination, energy growth and robotaxi progress. Shares rose 6% on Monday.
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what happened
According to Seeking Alpha, Barclays analyst Dan Levy upgraded Tesla to Overweight from Equal Weight and set a new $450 price target. That is 22% above the previous target and about 21% above Friday's close.
Levy argues that Tesla's value does not depend only on a possible combination with SpaceX. He expects the core business to grow this year after two years of declines, with further gains in 2027 supported by demand for full self-driving and rising exports from the Giga Shanghai plant. Tesla said its energy business is nearly sold out for 2027 due to data center demand. CFO Vaibhav Taneja cited 13.7 gigawatts of energy storage deployed in what was the company's second-best quarter for deployments, and energy gross margins rising from 20.4% to 33.1%.
On Monday, Tesla shares gained 6%, moved above the 200-day moving average and reached their highest level since July.
why it matters
Two factors matter to the market: a possible combination with SpaceX and improving profitability in energy storage. A single broker's rating change mainly affects Tesla shares and the electric vehicle sector rather than the broader market direction.
market impact
Tesla: the upgrade and higher target support the stock and sentiment around the automaker
tags
instruments
sources
- Tesla's upside goes beyond SpaceX merger -- Barclays — Seeking Alpha, 26 October 2026 at 14:50 UTC
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