SpaceX Goes Public with Mixed Analyst Opinions
SpaceX, led by Elon Musk, debuted on the Nasdaq on June 18, 2023, at $150 per share, and saw shares surge as high as 50%, hovering around $190 shortly thereafter. Analysts from Oppenheimer and Morningstar have differing assessments of the stock’s future; Oppenheimer values it at $190, while Morningstar suggests a fair value of only $63, indicating a potential overvaluation by approximately 70% compared to its current market cap.
Oppenheimer analyst Timothy Horan projects significant growth within a $10 trillion total addressable market by 2035, driven by SpaceX’s developments in AI and a potential boom in orbital data centers. However, he also warns of numerous near-term risks, including regulatory challenges and market momentum uncertainties. In contrast, Morningstar’s Nicolas Owens views the stock as risky, predicting a possible price of $154 by 2040 even under optimistic projections.
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