Barclays Raises Tesla Price Target to $450 and Upgrades Its Rating

Barclays analyst Dan Levy raised Tesla’s target to $450 from $370 and upgraded its rating to Overweight from Equal Weight on Oct. 26, amid a potential SpaceX combination.

Levy’s thesis also factored in Tesla’s automotive, energy and Robotaxi businesses. A Tesla committee of disinterested directors was exploring closer SpaceX ties that could include a business combination; no deal was assured.

Full Self-Driving (Supervised) subscriptions had an attachment rate above 75% among Tesla’s new North American deliveries. Cumulative unsupervised Robotaxi mileage reached eight times the previous quarter’s total.

Tesla’s third-quarter revenue was $28.046 billion, versus $28.095 billion a year earlier; energy generation and storage revenue fell 16% to $2.881 billion despite record energy-storage demand and backlog. The move follows TokenPost’s roundup of six other Tesla target increases.