SpaceX briefly returned to its $135 IPO price after its latest earnings beat revenue expectations

SpaceX (SPCX) got a lift Monday after investors digested its first earnings report as a listed company and Wall Street stayed bullish on the numbers.

The SPCX briefly returned to the $135 IPO level, coming right after last week’s second-quarter results, where revenue came in above expectations, as Cryptopolitan reported live.

Analysts kept their upside calls after the report. Citi analyst John Godyn maintained a buy rating and a $200 price target, which leaves close to 50% upside from the listing level. Deutsche Bank Research analyst Edison Yu also stayed at buy and kept his target at $235.

Edison said SpaceX has a “fast path” to an annual revenue pace of $100 billion. His forecast includes expected growth from the company’s neocloud operation and Cursor business.

Wall Street is also factoring in SpaceX’s ability to launch more rockets and build a larger network of infrastructure in orbit. The bullish targets arrived after shares had recently fallen to $108.27, making Monday’s bounce part of a very volatile first two months on the market.

… Continue reading the full article at the original source below.