Key Stats for SpaceX Stock

• Price change for SpaceX stock: 10%
• $SPCX Stock Price as of Aug. 12: $146
• 52-Week High: $226
• $SPCX Stock Price Target: $232

Now Live: Discover how much upside your favorite stocks could have using TIKR’s new Valuation Model (It’s free)>>>

What Happened?

Daiwa Capital Markets just trimmed its price target on SpaceX (SPCX) stock, cutting it to $140 from $175. That new target is barely above where the stock closed on Aug. 10, implying just 1% upside. Daiwa kept its neutral rating on SpaceX stock.

The reasoning comes down to cost. Daiwa’s analysts said faster revenue growth is coming at the price of a more capital-intensive business model. In other words, SpaceX is spending heavily…