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Analysts revise SpaceX stock price target
Finbold • • business
Key Points:
- Several Wall Street analysts have reiterated optimistic ratings for Space Exploration Technologies Corp. (SPCX), with price targets suggesting significant upside potential over the next 12 months.
- RBC Capital's Kenneth Herbert maintained a ‘Buy’ rating with a $225 price target, indicating a potential 90% increase from the current stock price of around $118.51.
- Other analysts, including those from Bernstein, Deutsche Bank, and Clear Street, also hold ‘Buy’ ratings with price targets ranging from $217 to $239, forecasting gains of 83% to over 100%.
- Despite recent share unlocks and long-term challenges, the average 12-month price target from 31 analysts surveyed by TipRanks is approximately $233.18, suggesting expectations for SPCX to reach new all-time highs.
- After hitting a low of about $108.37 in July, SPCX’s stock price rallied over 6% in early August, raising its market capitalization to $1.5 trillion, though it still trades 11% below its IPO price.
