TradingKey – SpaceX (SPCX) shares recently reclaimed their IPO price, closing at $146.23 on August 17, up 4.45%. However, as market sentiment rebounds, Wall Street’s outlook on this space and AI giant shows a clear divide.
Phillip Securities analyst Glenn Thum recently reaffirmed his “Sell” rating on SpaceX with a target price of $75. Based on the current stock price of $146, this forecast implies that SPCX could face a downside of approximately 50%.
SpaceX Revenue Surges 92%: Why Are Analysts Still Bearish on SPCX?
From a performance standpoint, SpaceX’s current growth momentum is by no means weak. The company’s second-quarter revenue grew 92% year-over-year to $7.8 billion, with AI business revenue surging 247% year-over-year, becoming a…
