SpaceX Starts Strong after Its IPO
SpaceX entered the public market with plenty of momentum on June 12. The company priced its IPO at $135 per share. The stock opened at $150 and closed at $160.95 on its first day of trading, up more than 19% from the IPO price. The rally pushed the firm’s value above $2.1 trillion, making it the sixth-largest public company in the U.S. and placing it ahead of Tesla (TSLA).
Much of the excitement centers on Starlink, the company’s satellite internet service, and Starship, which is SpaceX’s next rocket. Starship is built to carry much larger loads than the Falcon 9. If it enters service as planned, it could help the firm take on more missions and lower launch costs. Many investors believe these businesses could support growth for years to come.
Wolfe Research analyst Emilee Deutchman is among the bulls. On June 12, she started coverage on SPCX with a Buy rating and a $175 price target. She sees Starship and Starlink as the firm’s main growth drivers. Her view is that new Starship flights and more Starlink users could help lift sales in the years ahead.
Oppenheimer analyst Timothy Horan is even more bullish. He started coverage with a Buy rating and a $190 price target. The 5-star analyst believes SpaceX could use its launch, data, and AI assets to enter new markets over time. Still, he noted that many of these plans are in the early stages and have yet to be proven.
