Analyst Timothy Horan initiates coverage with an Outperform rating, citing 18% upside from SpaceX’s $160.95 closing price.
Oppenheimer analyst Timothy Horan initiated coverage on SpaceX (SPCX) with an Outperform rating and a $190 price target, implying 18% upside from its $160.95 Nasdaq debut close. The move follows SpaceX’s record $75 billion IPO, the largest U.S. stock-market debut by funds raised, surpassing Alibaba’s $21.8 billion listing in 2014.
SpaceX’s stock opened at $135 and surged 19% to $160.95 by market close, fueling debate over valuation. The company’s IPO ranks ahead of Visa’s $17.4 billion 2008 offering and Meta’s $16 billion 2012 debut, underscoring its scale.
Horan’s target suggests further gains, though the stock’s rapid rise has left investors weighing profit-taking risks. The endorsement marks Wall Street’s first major price call on the newly public space venture.