SpaceX (SPCX) Stock Rises as Morgan Stanley Calls It “Attractively Valued”
TLDR
- SPCX rose 1.2% to $139.63 on Wednesday, with quarterly revenue up 91.9% year over year to $7.81 billion
- EPS came in at a $0.09 loss, beating analyst expectations of a $0.26 loss
- Morgan Stanley reiterated a Buy rating with a $300 price target, saying the stock is “attractively valued”
- SpaceX plans a $100 billion Starship launch site in Louisiana, targeting thousands of launches per year
- Wall Street holds a “Moderate Buy” consensus with an average price target of $232.35
SpaceX (SPCX) climbed 1.2% on Wednesday to close at $139.63, touching an intraday high of $140.18 during the session.
Space Exploration Technologies Corp., SPCX
Volume came in at roughly 59 million, down about 46% from the average daily volume of 110 million.
The move followed a strong earnings beat. The company reported a loss of $0.09 per share for the quarter, well ahead of the analyst consensus of a $0.26 loss.
Revenue for the quarter hit $7.81 billion, a 91.9% jump compared to the same period last year.
Morgan Stanley analyst Adam Jonas responded by reiterating his Buy rating and $300 price target, saying SPCX is “attractively valued” trading at 10x sales on 70% growth and 25x EBIT on 113% growth based on his FY28 forecasts.
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