Morningstar values SpaceX at $780 billion, 56% below the $1.77 trillion IPO price, and says patient investors will get a better entry later.

SpaceX plans to go public as early as this month in what's expected to be the biggest IPO in history. Morningstar put the valuation at $780 billion.

June 2 : Morningstar analysts pegged SpaceX's valuation at $780 billion, less than half of what the Elon Musk-led company is reportedly targeting in its initial public offering,…

By Joseph Adinolfi and William Gavin