Wall Street floods SpaceX with bullish ratings as quiet period ends
Wall Street floods SpaceX with bullish ratings as quiet period ends.
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After roughly three weeks in public markets, SpaceX's ( SPCX ) stock price is roughly in line with where it began trading. Now, however, major institutional funds are about to start buying up the stock, and Wall Street is lining up bullish calls.
As SpaceX enters the Nasdaq-100 ( ^NDX ), a cadre of Wall Street's biggest banks initiated coverage of the company, with nearly unanimous bullish views on the "final frontier." Here are some of their calls:
JPMorgan Chase initiated coverage with an Overweight rating and a price target of $225 per share.
"SpaceX's ambitions — and potential impact on humanity — are bigger than any company's we've ever seen," analysts wrote. "While SpaceX has already reached a $2T+ market cap post its IPO, we believe significant upside potential remains as the company quite literally builds out the next frontier."
Morgan Stanley initiated coverage with an Overweight rating and a price target of $300 per share.
"SpaceX combines near-monopoly launch economics, the world's largest LEO satellite network, and a fast-scaling AI infrastructure business," analysts wrote. "We see the company as one of the few platforms that can link real estate in orbit, global connectivity, and compute capacity into one infrastructure stack."
Goldman Sachs initiated coverage with a Buy rating and a price target of $205 per share.
"We see the company as well positioned to scale its differentiated advantages across space (launch & reusability), connectivity (broadband & mobile satellite constellation) and AI (compute, X, etc.) — with each of these markets having the potential to become multiple trillion-dollar opportunities over a 5+ year time horizon," analysts wrote.
Bernstein initiated coverage with an Outperform rating and a price target of $239 per share.
"In our view, the investment case for SpaceX is about 'if' it can achieve its goals and much less about 'when,'" analysts wrote. "Our timeline for revenue growth from AI data centers is longer than the trajectory described by the company. But, we expect SpaceX to get there, even if it is one or two years late."
RBC Capital Markets initiated coverage with an Outperform rating and a price target of $225 per share.
"We can appreciate timing risk associated with the company's space aspirations, but we believe sentiment will benefit from a proven track record of disruption and innovation, an almost ~$2T 2035E TAM and virtually unmatched financial resources," analysts wrote.
Macquarie initiated coverage with an Outperform rating and a price target of $250 per share.
"Vertical integration, incumbency, first-mover advantage in space, scale, unit economics, long-tenured mgmt, deep technical expertise, and recent AI wins (eg, Anthropic, Google, and Reflection AI) position SPCX well to lead across its segments and towards a lunar economy," analysts wrote.
UBS initiated coverage with a Buy rating and a price target of $210 per share.
"We view SpaceX as an unparalleled set of assets with a multifaceted return profile and multiple drivers of upside for long term, risk tolerant investors," analysts wrote. "Starship — the most advanced heavy-lift, re-usable rocket — is the foundational technology that unlocks opportunities in launch, communications and AI compute creating a total addressable market nearing $30T. "
Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at jake.conley@yahooinc.com .
