This Analyst Has a $450 Price Target on SpaceX Stock. Does That Make it a Buy?
Significant optimism is already baked into SpaceX stock.
Overview
Space Exploration Technologies (NASDAQ: SPCX) is one of the more controversial stocks on the market, and that shows up in analysts' assessments. The range of 12-month price targets they've put on the stock forecast everything from significant losses to massive gains. According to Yahoo! Finance, the lowest price target among analysts covering the company is $117, while the highest -- from Andrew Beale at Arete Research -- is $450.
Beale's target suggests the stock will about a triple from today's level. That's a monster growth target, and would lead to SpaceX being valued at around $6 trillion. That's a huge difference from today's $2 trillion company, but is this a legitimate price target or just an outlier intended to grab attention?
Image source: The Motley Fool.
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Originally published at www.fool.com.