SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst ratings on Tuesday, with 16 of 17 analysts issuing 'buy' or 'outperform' ratings, as the company joined the Nasdaq 100 index. The Elon Musk-led space and AI company went public on June 12 at a $2.2 trillion valuation, the largest debut in history, despite not yet posting a profit.

SpaceX gets a wave of bullish ratings from Wall Street analysts SpaceX https://robinhood.com/us/en/stocks/SPCX/?source=sherwood received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company. SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way. Of the at least 17 analysts that gave a rating on Tuesday https://www.wsj.com/market-data/stocks/upgradesdowngrades , all but one gave it a “buy” or “outperform” rating. MoffettNathanson https://www.msn.com/en-us/technology/tech-companies/moffettnathanson-s-craig-moffett-explains-why-he-s-skeptical-of-starlink-as-a-wireless-competitor/vi-AA27oNbF was "neutral." The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs. Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.