As Space Exploration Technologies Corp. (NASDAQ: SPCX) experienced a relief rally ahead of its first earnings report on August 4, several Wall Street analysts reiterated further upside for the next 12 months.
Kenneth Herbert, an analyst at RBC Capital, reiterated a ‘Buy’ rating for SpaceX stock. Herbert set the firm’s 12-month average price target for SPCX shares at $225, a potential 90% upside, as the company’s stock hovered at about $118.51 at press time.
The analyst expects SpaceX stock to experience headwinds resulting from upcoming share unlocks, as Finbold explained. Additionally, he noted that investors are focused on long-term challenges despite the company’s current valuation being attractive.
