One analyst is pleased with the rockets-to-AI firm’s updated post-IPO goals.
The SpaceX Analyst
JPMorgan’s Doug Anmuth reiterated an Overweight rating on SpaceX and raised the price target from $225 to $240, implying an upside of 122% from Wednesday’s closing price of $108.27.
Analyst Takeaways
The commercial space titan’s first quarterly earnings release as a public company were a “strong debut,” Anmuth said in a new investor note.
“We went into SpaceX’s earnings thinking there wouldn’t be big changes to numbers given the June IPO was less than 2 months ago – we were wrong,” he said.
The analyst highlighted SpaceX’s new guidance for annual recurring revenue run rate of $100 billion by December and a goal of $1 trillion in…
