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SpaceX shares have closed below their IPO opening price for two consecutive days; Morgan Stanley sees upside to $300, while CFRA recommends a "sell."

SpaceX shares have closed below their IPO opening price for two consecutive days; Morgan Stanley sees upside to $300, while CFRA recommends a "sell."

格隆汇格隆汇2026/07/09 01:22
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Glonghui, July 9 | The world’s richest man Elon Musk’s space exploration company SpaceX saw its closing stock price drop 0.78% on Wednesday to $148.3, marking the second consecutive day below its IPO opening price of $150 (the IPO was priced at $135). This is also the second day SpaceX has been under pressure since officially joining an exchange’s index constituents. In the days following its listing, SpaceX’s stock surged, reaching a closing high of $225.64 on June 16, briefly pushing the company’s market capitalization close to the $3 trillion peak.After SpaceX was included in the exchange index, most analysts issued bullish investment ratings. Morgan Stanley initiated coverage of SpaceX stock with an “Overweight” rating and a price target of $300. Investment bank Bernstein also initiated with an “Outperform” rating and a price target of $239. Canada’s RBC initiated coverage with an “Outperform” rating and a target price of $225. UBS likewise gave a first “Buy” rating with a 12-month target price of $210.Brokers pointed out that SpaceX leads in reusable rocket technology and launch services, while its Starlink massive satellite internet service, along with the potential for profit margin expansion in both businesses, provides solid support for the group’s development.Analysts believe SpaceX has tremendous potential in the development of artificial intelligence products and services, covering products and tools ranging from agent coding solutions to platforms comparable to Anthropic’s Claude or OpenAI’s Codex, as well as the development of orbital data centers.Among analysts holding a cautious view, MoffettNathanson initiated coverage of SpaceX with a “Neutral” rating, while CFRA recommended “Sell” on the stock.
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