Wedbush analyst Dan Ives has initiated coverage on the newly public Space Exploration Technologies Corp.
(NASDAQ:SPCX) with a highly bullish outlook, betting on the company's emerging "demand flywheel" just as the stock prepares for massive passive capital inflows from its upcoming Nasdaq-100 inclusion on July 7.
However, Wedbush's $190 price target arrives amidst a fierce Wall Street debate, highlighted by Evercore founder Roger Altman's recent warning that "nobody understands" how to accurately value the volatile aerospace and AI giant.
Driving The Flywheel In a note to clients, Wedbush assigned an Outperform rating to SPCX, framing the company as a dominant, vertically integrated platform across connectivity, launch, and AI infrastructure.
Ives emphasized that Starship launches are leading to a powerful "demand flywheel and increasing deal flow for its Colossus clusters," with the Starlink satellite network serving as the primary "profitability driver," backed by 12 million global subscribers.
