Jefferies Cuts Tesla Target, Warns That Merger Talk Could Turn TSLA Into a SpaceX Tracker
Jefferies has reduced its price target for Tesla to $375 and cautioned that growing market belief in a potential Tesla-SpaceX merger could cause TSLA to trade as a proxy for SpaceX. The firm sees roughly 6% downside from current levels and projects below-consensus results as early investments in robotaxi and humanoid robot programs create initial l…