By Chelsey Dulaney
Wall Street analysts are rolling out sky-high price targets on SpaceX's shares this week, despite a bumpy few first weeks of trading for the rocket maker.
SpaceX, which is joining the Nasdaq-100 today, closed at $160.42 yesterday, down from a high of $200 reached just after its June IPO. Here's where analysts expect it to go:
- JPMorgan set a $225 price target by end-2027. "SpaceX's ambitions-and potential impact on humanity-are bigger than any company's we've ever seen," the bank's analysts said.
- Deutsche Bank set a $255 target, touting SpaceX's advances in making reusable rockets, its internet satellite business, and what it sees as a "clear advantage" in eventually deploying AI infrastructure in space.
- Morgan Stanley is setting the bar even higher with a $300 price target over a 12-month horizon.
- But few are as bullish as Raymond James, which set its target at $800.
The financial firms all played a role in SpaceX's IPO and were restricted from publishing research during a post-IPO "quiet period" that is now over.
On the skeptical side is Morningstar, which last month said it thinks SpaceX's shares should be worth just $63. Its analysts said SpaceX's valuation "hinges on two unproven technologies," its Starship rocket program and scalable AI data centers in orbit.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).