Wall Street, SpaceX Price Targets Unveiled... Average $216, Up to $800

▲ SpaceX (SPCX), Nasdaq 100 / AI generated image ©

Optimism is spreading on Wall Street regarding the stock price of Space Exploration Technologies Corp. As major securities firms successively presented their investment opinions and target prices, the average target price was compiled to be about 35% higher than the current stock price. Some analysts even suggested a possibility of approximately 400% increase over the next 12 months.

According to the cryptocurrency specialized media Finbold on July 7 (local time), major Wall Street securities firms have begun new analyses on SpaceX stock, which has maintained a boxed range for the past two weeks. Brian Gesuale of Raymond James presented the most optimistic outlook with a 'Strong Buy' opinion and a 12-month target price of $800. This implies a potential increase of approximately 400% compared to the stock price at that time.

Target prices by securities firms were generally concentrated in the $190-$250 range. Clear Street suggested $217, Stifel Nicolaus $190, Wells Fargo $230, Citigroup $200, and Morgan Stanley $300. Goldman Sachs suggested $205, UBS $210, Bernstein $239, JP Morgan and RBC Capital $225 each, and Macquarie $250 as target prices. Cantor Fitzgerald suggested $246, Mizuho $200, Needham also $200, while William Blair only gave a "buy" rating and did not disclose a target price.

According to the media, the average 12-month target price of 26 Wall Street analysts compiled by TipRanks was $216.48. This represents an additional upside potential of approximately 35% based on the stock price at that time.

The stock price trend also remains robust. SpaceX has never fallen below its IPO price since its initial public offering in June, and as of the time of writing, the stock price is approximately $160.42, an increase of over 18% from the IPO price. The media reported that Wall Street is positively evaluating the possibility of SpaceX's stock price increase over the next 12 months.

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