SpaceX (NASDAQ: SPCX) is once again above the initial public offering (IPO) value, thanks to this week’s 4% rally that pushed the price to $139 and prompted JPMorgan to double down on its SpaceX stock price target.
Namely, the bank reiterated its ‘Overweight’ rating and $240 price target for the space company on August 25, noting growing artificial intelligence (AI) ambitions, particularly following the acquisition of Cursor on August 14.Â
The new figure implies a roughly 70% upside from the current stock price and, if reached, would constitute a new SPCX share all-time high, beating the previous record of $225 seen a few days after the debut.
