Wall Street sets Tesla stock price target for next 12 months

Barclays analyst Dan Levy was the latest institutional expert to revise his position toward Tesla (NASDAQ: TSLA ) stock following its impressive third-quarter (Q3) earnings . Indeed, on Monday, October 26, he replaced his previous ‘Equal Weight’ – ‘Hold’ – rating with ‘Overweight’ – ‘Buy’ – and increased his 12-month price target for TSLA shares from $370 – effectively a 0.60% drop from the latest close at $372.22 – to $450 – a 20.90% upside. According to the Wall Street expert’s note, the change was motivated by the assessment that the potential merger between SpaceX (NASDAQ: SPCX ) and Tesla could bring a premium to the car maker’s equity, but also by various business and technological developments.

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