Analysts see more upside for SpaceX as post-IPO research begins
Major brokerages initiated coverage on Tuesday with mostly buy ratings following the company’s $75 billion June IPO.
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Summary
- Wall Street analysts have launched overwhelmingly bullish coverage of SpaceX (SPCX) after the expiration of the 25-day post-IPO quiet period.
- The stock, which priced at $135 in June’s $75 billion IPO, was recently trading at $150.93, down more than 6% from post-listing highs but still above its offering price.
- Major underwriters and banks, including Goldman Sachs, Morgan Stanley and others, issued buy-equivalent ratings, with price targets ranging from $205 to as high as $800, citing SpaceX’s strength in launch services, Starlink broadband and government contracts.
