Wedbush Securities assigns an Outperform rating to SpaceX, setting a price target implying 18% upside from current levels.
Wedbush Securities initiated coverage on SpaceX (SPCX) with an Outperform rating and a $190 price target, suggesting 18% potential upside. The firm cited SpaceX’s connectivity, launch, and AI infrastructure segments as key growth drivers, projecting an enterprise value of $2.48 trillion by fiscal 2028.
SpaceX stock debuted at $150 on June 12 and surged to $225 before retreating, reflecting volatility since its IPO. Analyst Dan Ives highlighted the company’s differentiated assets, particularly its Connectivity division, as the primary profitability engine.
The initiation follows SpaceX’s record-setting IPO, which has dominated market discussions this summer. Wedbush’s bullish stance contrasts with recent price swings, offering a potential catalyst for investor sentiment.