Jefferies Lowers Tesla Target and Highlights Potential SpaceX Tracking Stock Risk
Key takeaways
- The brokerage argues that growing investor belief in a potential merger between the two companies may begin to influence Tesla’s valuation independently of its own business performance.
- Following the highly anticipated SpaceX initial public offering, Jefferies examined how investor perceptions of the relationship between Tesla and SpaceX are evolving.
- While Tesla shares avoided significant weakness ahead of the SPCX listing, the firm noted that market expectations for a future tie-up between the companies are becoming more widespread.
Jefferies Lowers Tesla Target and Highlights Potential Space X Tracking Stock Risk Fiona Craig Mon, June 22, 2026 at 5:41 PM GMT+7 2 min read TSLA SPCX JEF tesla sign NEW SIZE ©Adobe Stock Images Jefferies has reduced its price target on Tesla (NASDAQ:TSLA) to $375 and identified what it sees as an emerging structural risk for shareholders: the possibility that expectations surrounding a future combination with Space X (NASDAQ:SPCX) could cause Tesla shares to increasingly trade as a proxy for SpaceX.
The brokerage argues that growing investor belief in a potential merger between the two companies may begin to influence Tesla’s valuation independently of its own business performance.
Following the highly anticipated SpaceX initial public offering, Jefferies examined how investor perceptions of the relationship between Tesla and SpaceX are evolving.