Tesla Shares Rise 6.5% as Committees Review Possible SpaceX Merger
Photo: TokenPost
Tesla shares rose 6.5% to $396.43 Monday as committees at Tesla and SpaceX reviewed a possible merger, though neither company had agreed to terms. Elon Musk said independent committees at both companies are examining the proposal. He supports it but has stepped away from committee discussions because of conflicts of interest. Musk cited chips, robotics and connectivity as opportunities tied to the idea. Barclays analyst Dan Levy raised Tesla’s rating to Overweight from Equal Weight Monday and lifted his price target to $450 from $370. Levy pointed to Tesla’s vehicle business, robotaxi progress and the potential SpaceX merger.
Source: TokenPost
