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SpaceX Stock Rockets on 'Cheap' Analyst Call
5 Oct
Summary
- SpaceX shares climbed significantly Monday on positive analyst sentiment.
- Morgan Stanley reiterated an 'overweight' rating and $300 target.
- An upcoming Starship launch is seen as a near-term investment opportunity.
SpaceX shares saw a significant jump on Monday, trading as much as 5.5% higher and reaching levels not observed since July. This upward movement followed a report from Morgan Stanley analysts who characterized the stock as "cheap and getting cheaper" when adjusted for growth prospects. They believe the company represents an attractive way to invest in the growing Space and Intelligence Economy.
Morgan Stanley affirmed its "overweight" rating for SpaceX stock and maintained a $300 price target. At the time of the report, shares were trading above $167, significantly higher than their June debut price around $105. Analysts suggested that investors have a few more weeks to capitalize on the opportunity before the 15th Starship launch, which is anticipated later this month.
