SpaceX Stock Could Jump by 19%, According to Wall Street
Is The Street being too optimistic?
Overview
Space Exploration Technologies (NASDAQ: SPCX) has had a highly successful first few weeks on equity markets after its debut in the biggest IPO in history. However, the company has experienced a pullback. Not to worry, says Wall Street, as the dip may be a buying opportunity. SpaceX's average price target of $188.17 (According to Yahoo! Finance) represents an upside of 19% from its current levels. Should investors rush to buy SpaceX's shares right now?
Image source: The Motley Fool.
The excitement surrounding SpaceX comes from several sources. First, the company's CEO, Elon Musk, is a trailblazer. He's not afraid to make aggressive bets and pursue potentially transformative strategies, and that has paid off for him in the past. Tesla (NASDAQ: TSLA) has delivered outstanding returns since its 2010 IPO with Musk at the helm. He has also helped revolutionize space travel, notably through SpaceX's pioneering work on reusable rockets, which significantly reduced launch costs. Second, SpaceX is by far the leader in some of the markets it operates in. The company dominates orbital launches.
Details
Source
Originally published at www.fool.com.