SpaceX Stock Is Already Down 37% From Its Peak. Here's What Deutsche Bank's $255 Target Says Happens Next
SpaceX has fallen about 37% from its peak, but Wall Street still sees big upside. Here's why the story may not be over.
Overview
Barely a month after one of the most hyped listings in history, Space Exploration Technologies Corp. (NASDAQ: SPCX) has been humbled. After peaking around $225.64 in mid-June, SpaceX stock has slid to roughly $141, a drop of 37.5% that has pushed it below its $150 debut price and back toward its $135 offering level.
Yet just as retail enthusiasm faded, analysts at Deutsche Bank stepped in with a buy rating and a $255 price target -- a call that, from today's beaten-down price, implies the analysts think the story is far from over.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.