One Wall Street Analyst Sees 50% Upside in SpaceX. Why I'm Still Not Buying the Stock.
Oppenheimer placed a $250 price target on the stock.
One Wall Street Analyst Sees 50% Upside in SpaceX. Why I'm Still Not Buying the Stock.
Overview
Wall Street analysts are already offering their opinions on Space Exploration Technologies (NASDAQ: SPCX), with one firm forecasting 50% upside. Oppenheimer analyst Tim Horan, who already had a buy rating on SpaceX before its IPO, recently upped his price target from $190 to $250.
Horan praised the company's vertical integration, saying it can disrupt a lot of different industries. One of those businesses is the wireless industry, with the analyst noting that the mobile market for Starlink could eventually become bigger than its satellite internet offering. He's bullish on that business as well, believing it could increase its capacity to serve hundreds of millions of customers.
Details
He noted that if Elon Musk's prediction of $1 trillion in revenue by 2030 is anywhere close, SpaceX could be a $10 trillion company. Horan did say that Musk's Terafab chip foundry and Starship rocket are ambitious projects that carry risk, but that SpaceX and Musk are great at these very ambitious projects.
Source
Originally published at www.fool.com.
