Wedbush Upgrades SpaceX (NASDAQ:SPCX) to Strong-Buy

SpaceX (NASDAQ:SPCX) was upgraded by equities researchers at Wedbush to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

SPCX has been the subject of a number of other research reports. Arete Research set a $401.00 target price on shares of SpaceX and gave the stock a “buy” rating in a research report on Thursday, June 18th. Wells Fargo & Company raised SpaceX to an “overweight” rating in a research note on Monday, June 22nd. Cfra assumed coverage on shares of SpaceX in a research note on Friday, June 12th. They set a “sell” rating and a $115.00 price objective for the company. Seaport Research Partners raised shares of SpaceX to a “buy” rating in a research report on Monday, June 22nd. Finally, TD Cowen assumed coverage on SpaceX in a research report on Monday, June 22nd. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $209.43.

SpaceX Price Performance

SpaceX stock opened at $157.54 on Tuesday. SpaceX has a one year low of $147.11 and a one year high of $225.64.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The company had revenue of $4.69 billion for the quarter.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Wedbush initiated coverage with a Buy rating and a $190 price target, with Dan Ives arguing SpaceX is evolving into a broader AI and connectivity platform rather than just a rocket company. Article Title
• Positive Sentiment: Several reports highlighted the upcoming Nasdaq-100 addition, which should create significant mechanical buying from index funds and ETFs, supporting demand for the shares. Article Title
• Positive Sentiment: Analysts also pointed to SpaceX’s multi-business structure, especially Starlink and the company’s expanding AI-related ambitions, as reasons the stock could have more upside over time. Article Title
• Neutral Sentiment: Investor attention is also being driven by a rumored AI phone/device prototype and related xAI integration, but these are still speculative and have not yet translated into confirmed revenue. Article Title
• Neutral Sentiment: Short interest has increased, showing that some traders expect more downside after the IPO, which helps explain the stock’s sharp swings. Article Title
• Negative Sentiment: Multiple articles warned that SpaceX’s valuation is stretched, with some analysts and commentators saying the stock is expensive, hard to value, and vulnerable to volatility after its rapid IPO run-up. Article Title
• Negative Sentiment: Some coverage also emphasized execution risk, high debt, and the fact that SpaceX may not be free-cash-flow positive until 2029, which is weighing on sentiment despite the bullish analyst calls. Article Title

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.