Oppenheimer issues bold price target on SpaceX stock

SpaceX’s (SPCX) historical IPO kicked disconnected with a valuation fewer companies ever touch.

Consequently, it besides near investors wondering however overmuch upside is left, oregon whether profit-taking is astir to begin.

SpaceX's stock, priced astatine $135, raised $75 billion, opening a marque caller section for Elon Musk’s abstraction empire, according to Reuters.

By its archetypal close, SpaceX had jumped to $160.95, stretching an already heated valuation debate.

For perspective, SpaceX present ranks arsenic the largest U.S. stock-market IPO by magnitude raised.

According to Investopedia, that puts it comfortably up of Alibaba’s $21.8 billion 2014 listing, Visa’s $17.4 billion IPO successful 2008, Enel’s $16.4 billion woody successful 1999, and Meta/Facebook’s $16 billion debut successful 2012.

Nevertheless, the excitement was connected the cards from the get-go, but investors stared astatine a banal that had already moved 20% supra its IPO price.

Then Oppenheimer raised the bar.

According to TheFly, the seasoned banal marketplace probe steadfast conscionable issued Wall Street’s archetypal large terms people connected SpaceX, arguing that the bigger communicative whitethorn inactive beryllium underpriced.

What Oppenheimer said astir SpaceX stock

Oppenheimer’s Timothy Horan gave SpaceX 1 of its archetypal large Wall Street endorsements aft its historical IPO.

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Horan initiated his sum with an Outperform standing and a $190 terms target, implying astir 18% upside from SpaceX’s latest reported adjacent of $160.95 aft the banal jumped and popped 19% successful its Nasdaq debut.

According to him, SpaceX is the “only afloat vertically integrated AI company", spearheaded by its capital, data, ample connection models, hardware, manufacturing, and engineering talent.

Speaking of Horan, the Oppenheimer expert who chiefly covers technology, communications, and telecom is simply a 4.70-star analyst, with a 58.82% occurrence rate according to Tipranks.

That broader thesis is wherefore helium feels it’s unfair to dainty it arsenic a accepted aerospace player.

He feels SpaceX tin power much of the stack than rivals.

It launches its ain rockets, builds and operates Starlink satellites, owns the lawsuit relationship, and could yet usage cheaper orbital entree to enactment AI infrastructure.

Currently, Starlink is intelligibly its fiscal engine, but Oppenheimer’s people suggests investors should look beyond broadband alone.

According to Reuters, Starlink accounted for astir 60% of SpaceX’s $18.67 cardinal successful 2025 sales, implying $11.2 cardinal successful Starlink revenue.