29 Wall Street Analysts Priced SpaceX. Here Is the Target Worth Paying Attention To
If this analyst is correct, investors who don't own SpaceX's shares will kick themselves later.
Overview
Space Exploration Technologies (NASDAQ: SPCX) recently went public in what may have been the most anticipated IPO ever. It didn't disappoint. The stock performed well on its debut and in the subsequent days, even rising to the fifth-largest company on the market at some point. A slew of analysts have weighed in on the stock. There are currently at least 29 firms covering the company, and the overwhelming majority have highly positive opinions and average price targets that imply healthy upside from current levels. Perhaps the most surprising price target of them all came from Brian Gesuale, an analyst at Raymond James (NYSE: RJF). Here's just how bullish Gesuale is on SpaceX's prospects.
Image source: The Motley Fool.
SpaceX is looking to tap into transformational opportunities. Within its space segment, the company has already made breakthroughs with its pioneering partially reusable rockets, which have significantly decreased the cost of space travel. This success has helped fuel some of the company's other businesses. For instance, the company's Starlink, which offers internet connectivity through a constellation of Low Earth Orbit (LEO) satellites, is by far the leader in this niche, with more satellites in orbit than any of its competitors -- a feat it achieved largely through innovations in space travel.
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Originally published at www.fool.com.