SpaceX Stock Trades Near $140 While Wall Street's Average Target Sits Above $232. Who's Right?
One Wall Street analyst has a $450 price target on SpaceX stock.
Overview
After its historic IPO, which initially priced shares at $135, Space Exploration Technologies (NASDAQ: SPCX) stock quickly soared, setting an all-time high of $225.64 on June 15. The space stock quickly lost its luster, however. Over the following months, SpaceX's stock price has fallen back to near its initial IPO valuation.
Wall Street analysts largely remain unperturbed. On average, analysts have a $232.35 price target on shares, implying more than 68% upside from today's price. One analyst, Andrew Beale from Arete Research, even has a $450 price target on the stock, suggesting at least 200% in upside over the next 12 months.
Details
Not all experts are SpaceX bulls. Glenn Thum of Phillip Securities, a Singaporean investment bank, currently rates SpaceX stock as a sell. His price target of $75 implies 45% downside over the year to come.
Source
Originally published at www.fool.com.
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