SpaceX Faces Key Price Warning as Analyst Flags 45% Downside Risk
Phillip Securities analyst Glenn Thum outlined numerous concerns with the tech giant.
Overview
Phillip Securities analyst Glenn Thum recently set a target price of $75 per share for Space Exploration Technologies (NASDAQ: SPCX). As of the time of this writing, that would amount to a 45% decline in the stock price. Moreover, Thum has a five-star rating on TipRanks and an 87% success rate, which has won him considerable credibility.
Admittedly, only two out of 35 analysts rate SpaceX as a sell, and certainly, such forecasts do not always come to pass. Nonetheless, it highlights some risks with owning SpaceX stock.
Details
Here's why investors would probably serve themselves well by heeding this warning.
Source
Originally published at www.fool.com.
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