SpaceX (NASDAQ:SPCX) Rating Increased to Strong-Buy at New Street Research

New Street Research upgraded shares of SpaceX (NASDAQ:SPCX) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on SPCX. Cfra assumed coverage on shares of SpaceX in a research report on Friday. They issued a “sell” rating and a $115.00 price target for the company. Wolfe Research initiated coverage on shares of SpaceX in a research report on Friday. They issued an “outperform” rating and a $175.00 price target for the company. Oppenheimer set a $190.00 price target on shares of SpaceX and gave the stock an “outperform” rating in a report on Thursday. Finally, KGI Securities initiated coverage on shares of SpaceX in a report on Thursday. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SpaceX has an average rating of “Buy” and an average target price of $161.25.

SpaceX Stock Performance

NASDAQ SPCX opened at $160.95 on Thursday. SpaceX has a 12-month low of $149.34 and a 12-month high of $176.52.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The company had revenue of $4.69 billion for the quarter.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s blockbuster IPO raised $75 billion, making it the largest IPO ever and signaling extremely strong demand from institutions and retail buyers.
• Positive Sentiment: Several analysts and market commentators issued bullish takes, with some calling the stock undervalued and pointing to long-term upside from Starlink, launches, and AI infrastructure.
• Positive Sentiment: The debut pushed Elon Musk into trillionaire territory and intensified attention on SpaceX as a potential mega-cap growth story. Article Title
• Neutral Sentiment: The IPO also sparked a wave of trading activity in related names, ETFs, and tokenized-share products, showing that SpaceX is now a broad market theme rather than just a single stock. Article Title
• Neutral Sentiment: At the same time, some reports warned that the valuation is extremely rich and that early enthusiasm could fade after the first-day pop.
• Negative Sentiment: CFRA initiated coverage with a Sell rating and a $115 target, arguing the shares may have downside from current levels.
• Negative Sentiment: Several articles also note profit-taking and selling pressure in space-related stocks as investors rotate out of proxies and reassess the valuation.

SpaceX Company Profile

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.