Only five of 60 analysts tracked by Bloomberg rate Tesla a sell, the lowest share since early 2015. Barclays upgraded the stock to overweight on Monday, calling a SpaceX merger “ a key part of the Tesla bull case “, after BNP Paribas and CLSA dropped their sell ratings last week.

Wall Street analysts are dropping their bearish calls on Tesla as a merger with SpaceX looks more likely, Bloomberg reported . Only five of the 60 analysts it tracks now rate the stock a sell, the lowest share since early 2015. At the start of the year, 15 of 71 did.

Barclays upgraded Tesla to overweight on Monday and raised its price target to $450 from $370, Investing.com reported . BNP Paribas and CLSA dropped their sell ratings last week.

“ The anticipated merger is now a key part of the Tesla bull case, as it provides upside potential to the stock, ” Barclays analyst Dan Levy wrote.

BNP’s James Picariello raised his target to $420 from $266, which he said “ exclusively ” reflects the higher chance of SpaceX buying Tesla.…