US Stock Market Move | Tesla, Inc. (TSLA.US) rose more than 6% as Barclays upgraded the stock to Buy.

On Monday, Tesla, Inc. (TSLA.US) opened higher and climbed further, rising more than 6% as of publication, with a market capitalization of US$1.56 trillion. On the news front, on October 26 US Eastern Time, major Wall Street banks updated their ratings on Tesla, Inc. Barclays PLC Sponsored ADR analyst Dan Levy upgraded Tesla, Inc. (TSLA.US) to Buy and raised the target price from US$370 to US$450. Market speculation is heating up over a potential merger between Tesla, Inc. and SpaceX. Barclays analyst Dan Levy believes the two sides could announce a deal before Tesla, Inc.'s annual shareholder meeting on December 3, and the speculation has drawn market attention to future business integration and valuation arrangements between the two companies. In addition, Daiwa released a research report stating that Tesla, Inc.'s third-quarter 2026 non-GAAP earnings per share were US$0.48, above the bank's and market expectations of about US$0.45, mainly driven by better-than-expected margins in both automotive and non-automotive businesses, partly supported by tariff refunds. Momentum across businesses appears to be strengthening, including automotive backlog at a four-year high, a 75% attach rate for FSD (Supervised) on new vehicles in North America, an 8-fold increase in unsupervised Cybercab mileage in Austin, and both orders and backlog in the energy storage business hitting record highs. The bank is encouraged by the company's solid execution across multiple businesses and believes that improving autonomous driving technology is driving FSD adoption, which may help the company expand market share amid recovering EV demand and limit production risk.