Daiwa Securities Group Initiates Coverage on SpaceX (NASDAQ:SPCX)

Daiwa Securities Group started coverage on shares of SpaceX (NASDAQ:SPCX) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating and a $175.00 price target on the stock. Daiwa Securities Group’s target price indicates a potential upside of 11.08% from the stock’s current price.

SPCX has been the topic of several other reports. Morgan Stanley downgraded shares of SpaceX to a “negative” rating in a research note on Monday, June 22nd. Wolfe Research initiated coverage on shares of SpaceX in a research report on Friday, June 12th. They issued an “outperform” rating and a $175.00 price objective on the stock. Cfra assumed coverage on SpaceX in a report on Friday, June 12th. They issued a “sell” rating and a $115.00 price objective for the company. Oppenheimer raised their target price on shares of SpaceX from $190.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Finally, Wedbush assumed coverage on shares of SpaceX in a report on Tuesday. They issued an “outperform” rating and a $190.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.12.

SpaceX Price Performance

NASDAQ SPCX opened at $157.54 on Thursday. SpaceX has a 1-year low of $147.11 and a 1-year high of $225.64.

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

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Wedbush initiated coverage with a Buy/strong-buy view and a $190 price target, arguing SpaceX is becoming more than a rocket company and could benefit from strong demand for Starlink, launch services, and AI-related businesses. Article Title
• Positive Sentiment: SpaceX is set to join the Nasdaq-100 on July 7, which could trigger large index-fund buying and inflows as passive investors are forced to add the stock. Article Title
• Positive Sentiment: Some analysts say SpaceX could be one of the biggest AI infrastructure plays, with the stock drawing bullish commentary tied to Starlink, xAI, and excess compute monetization. Article Title
• Neutral Sentiment: The FCC is moving to speed satellite license reviews, which could help the broader satellite industry and support SpaceX’s growth plans over time. Article Title
• Negative Sentiment: Elon Musk denied reports that SpaceX is developing an AI phone or handheld device, removing a speculative growth story that had helped sentiment earlier in the week. Article Title
• Negative Sentiment: Short sellers have increased bets against SpaceX, reflecting concerns that the stock may remain volatile after its IPO and could continue pulling back from its early highs. Article Title
• Negative Sentiment: Several articles highlighted that SpaceX’s valuation is extremely rich and that the stock may be vulnerable to continued post-IPO selling if execution does not quickly support the price. Article Title

SpaceX Company Profile

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.