Tesla Stock Price Target $485: Cantor Bets On SpaceX Merger As Shares Climb 3.4%

Cantor Fitzgerald has maintained its Overweight rating on Tesla with a $485 price target, about 25% above the stock’s current $386.47, saying it expects a merger with SpaceX to go ahead. Tesla and SpaceX have formed special committees at shareholders’ request to study a combination, and any deal would need about 50% approval from Tesla investors. Tesla shares rose 3.41%, while SpaceX jumped 7.79%. Tesla’s third-quarter revenue came in at $28.0 billion, just under the $28.3 billion forecast, though adjusted earnings of $0.48 per share beat expectations of $0.45. Other brokerages are split.

Source: Coinpedia