As SpaceX (NASDAQ: SPCX) was undertaking its successful Starship Flight 14 rocket test on Monday, September 28, Wall Street made itself busy revising its ratings and price targets for the firm’s equity.
Indeed, the day witnessed no fewer than eight notes from prominent stock market analysts, each offering a bullish outlook for SPCX stock.
CLSA and Bernstein’s Douglas Harned proved the most optimistic, with the former forecasting SpaceX stock would rise to $250 in the next 12 months, and the latter to $248 – 71.86% and 70.48% rallies from the latest $145.47 close, respectively.
Edison Yu from Deutsche Bank proved almost as bullish as he, along with issuing a ‘Buy’ recommendation, estimated SPCX stock would rally 61.55% to $235.
Meanwhile, TD Cowen analyst John Blackledge came in at the other end of the spectrum, having issued Monday’s most conservative 12-month price target: $200.
Lastly, Clear Street’s Brian Dobson forecasted a rally to $217, Evercore ISI’s Kutgun Maral to $230, and RBC Capital’s Kenneth Herbert to $225. Louie DiPalma rated SpaceX stock as a ‘Buy’, but assigned no price target, per the data Finbold retrieved from the equity analysis platform TipRanks on Tuesday, September 29.
SpaceX stock price drops despite milestone Flight 14
Elsewhere, SPCX stock has recently given some cause for concern to its shareholders. The equity has largely remained stuck in the range between $140 and $150 – which, while above the initial public offering (IPO) price of $135, is below the day-one open and close – following the early August rally.
Furthermore, the impact that the successful Starship Launch 13 had in July and Starship Launch 14 had on Monday – or rather, the lack thereof – indicates that the company is mostly viewed as an artificial intelligence (AI) lab and not a space and rocket firm.
This notion is further reinforced by SPCX stock dropping 2.16% in the September 28 session despite the landmark launch and SpaceX’s own S-1, which heavily emphasized AI.
Notably, per Elon Musk’s own assessment, his firm is, at best, months away from developing models as advanced as those operated by OpenAI and Anthropic.
Wall Street sets SpaceX stock price target for the next 12 months
Lastly, neither relative market underperformance nor the shift of focus to a race that SpaceX appears to be – for the time being – losing has had a meaningful impact on Wall Street’s confidence.
Overall, SPCX shares are rated as a ‘Moderate Buy’, with twenty-seven positive, five neutral, and only two ‘Sell’ recommendations, per the data Finbold retrieved from TipRanks on September 29.
The average price target for the next 12 months is comparably bullish, as it assumes SpaceX stock will rally 60.19% from $145.47 at the latest close to $233.03.
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