NEW YORK — Shares of Elon Musk's two public companies held firm near recent highs on Thursday as a wave of analysts lifted price targets ahead of Tesla's third-quarter report due Oct. 21, pointing to the just-unveiled Roadster, a fast-scaling robotaxi fleet and an energy business running at record output.
Tesla — NASDAQ: TSLA — has been one of the market's standout large caps this month, buoyed by a dense run of product news, while SpaceX — NASDAQ: SPCX — the newly public parent of Starlink and xAI, has traded near its highs since listing. Both names drew fresh bullish notes Thursday as the Street positioned into next week's earnings.
Targets Move Higher
Analysts framed the target increases around catalysts rather than the current quarter's deliveries alone. Several cited the Roadster's reveal and the read-through to Tesla's brand and technology halo, a theme explored in our coverage of Roadster Day and the renewed Tesla-SpaceX deal chatter. Others pointed to the robotaxi ramp, FSD's widening reach and an energy-storage business that keeps setting records.
The optimism echoes the setup laid out in our Tesla Q3 earnings preview, which flagged Oct. 21 as the pivot point for a stock that has run hard into the print.
Where the Tape Stands
As of midday Thursday, $TSLA changed hands around $462.80, up about 1.4% on the session and near the upper end of a 52-week range of roughly $212 to $488. $SPCX traded near $287.50, up about 0.9%, holding close to its post-listing high near $305 against a low around $110. The moves came with the broader tape steady, as the $QQQ held gains and AI bellwether $NVDA firmed alongside the Musk complex. Live quotes are available for Tesla on Yahoo Finance, Google Finance, WSJ and Nasdaq, and for SpaceX on Yahoo Finance, Google Finance, WSJ and Nasdaq.
Catalysts Stack Up
Beyond the Tesla print, investors are watching a crowded calendar: SpaceX's expanding Starshield and Starlink businesses, xAI's compute buildout now that Colossus 2 is online, and continued progress toward Starship's operational service. The interlocking nature of Musk's empire — where a win at one company tends to lift sentiment across the others — has been a defining feature of the recent rally, as reported by outlets including CNBC.
Into the Print
With targets moving up and both stocks near highs, expectations heading into Oct. 21 are elevated, which raises the bar for Tesla to clear. Bulls argue the company's widening lead in autonomy, energy and manufacturing justifies the premium; the report will be the next test of that thesis.
For now, the message from the tape is steady confidence: two of the market's most-watched names holding firm as a packed autumn of catalysts rolls on.
This article does not constitute financial advice. Readers are advised to do their own research before investing in the stock market. Prices cited are point-in-time snapshots and may be stale — always confirm on a live financial source.