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Goldman Sachs and Morgan Stanley split on SpaceX stock price target

Goldman Sachs and Morgan Stanley split on SpaceX stock price target

Goldman Sachs and Morgan Stanley, the two lead underwriters on SpaceX’s initial public offering, arrived at price targets more than $1 trillion apart in value as the 25-day quiet period for IPO underwriters expired on Tuesday.

A $205 price target came from Goldman Sachs, where a team led by Eric Sheridan handled coverage, while Adam Jonas led the Morgan Stanley team to a $300 figure, MarketWatch reported. Both firms initiated coverage with the equivalent of a buy rating. SpaceX stock closed Monday at $160.42.

The divergence between the two banks was not the only notable call to emerge Tuesday. Raymond James, another underwriter on the IPO, initiated coverage with an $800 price target and a strong buy…

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