- SpaceX stock (SPCX) surged 16% in five days, returning to its IPO launch price after a lock-up expiration unlocked 911 million shares.
- Over 4 billion additional shares will become eligible by year-end, yet the stock remains 11% below its IPO price.
- Wall Street analysts largely stay bullish: Argus Research upgraded to Buy with a $160 target, while Morgan Stanley holds a $300 price target.
- JPMorgan raised its target to $240, and UBS issued a fresh Buy rating; Piper Sandler and Wells Fargo trimmed forecasts over lock-up and capex concerns.
SpaceX stock (SPCX) has surged 16% over the past five days, returning to its IPO launch price as a key lock-up expiration unlocked 911 million shares for trading this week. The Elon Musk-led space company’s stock remains 11% below its IPO price, but the latest rally suggests a buy-the-dip opportunity emerged last week, with retail investors buying SPCX every day since its debut.
Wall Street’s forecast for SPCX stayed mostly upbeat, with several banks defending price targets far above current levels near $110. Argus Research upgraded the stock to Buy from Hold, setting a $160 target, while Morgan Stanley kept its aggressive $300 price target unchanged.
Meanwhile, Oppenheimer maintained an Outperform rating with a $250 target, and JPMorgan raised its target to $240 from $225 after the latest quarterly report. However, Piper Sandler and Wells Fargo trimmed their numbers over lock-up and capital expenditure worries. Consequently, the divergence among analysts highlights uncertainty even as the stock recovers.
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