SPCX fell more than 5% after the U.S. stock market open on July 7, according to BIT (bit.com) market data, with the stock last quoted at $152.3. The move came on the same day several major Wall Street firms published their views on SpaceX. Raymond James stood out with an $800 price target, effectively framing the company as a next-generation combination of space infrastructure, communications network, and orbital computing platform. Other large banks were materially more conservative, with most price targets clustering between $200 and $300. Reported targets included $300 from Morgan Stanley, $255 from Deutsche Bank, $225 from both JPMorgan and RBC, $205 from Goldman Sachs, and $200 from Citi. The intraday decline highlighted a disconnect between near-term market trading and the optimistic stance reflected in sell-side coverage.
SPCX drops more than 5% after the U.S. market open
According to market data from BIT (bit.com), SPCX fell more than 5% after the U.S. stock market opened on July 7. The stock was last quoted at $152.3. The decline came on the same day multiple Wall Street institutions released ratings and price targets on SpaceX, creating a notable contrast between bearish intraday trading and broadly constructive sell-side commentary.
Wall Street firms publish buy calls, but targets vary widely
Earlier in the day, several major investment banks issued their views on SpaceX (SPCX). Raymond James was the most aggressive, assigning an $800 price target and effectively describing the company as a next-generation combination of space infrastructure, communications network, and orbital computing platform. By comparison, most mainstream banks were more measured, with targets concentrated in the $200 to $300 range.
- Morgan Stanley: $300
- Deutsche Bank: $255
- JPMorgan: $225
- RBC: $225
- Goldman Sachs: $205
- Citi: $200
The dispersion in targets underscores how differently Wall Street is framing SpaceX's valuation. Even so, the market reaction at the open was weaker, with SPCX trading sharply lower despite the wave of positive ratings released earlier in the session.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
