SpaceX joined the Nasdaq-100 index on Monday, less than a month after raising $75 billion in the largest initial public offering on record. The rocket maker became eligible for inclusion just 15 trading days after its June 12 IPO, though shares fell 5.4% on its first day in the benchmark.
Wall Street brokerages flooded the stock with bullish ratings as a post-IPO quiet period ended. Morgan Stanley initiated coverage with an Overweight rating and a $300 price target, while Raymond James set a high target of $800. JPMorgan, Goldman Sachs, Bernstein, and Deutsche Bank all assigned buy-equivalent ratings with targets ranging from $205 to $255.
Morgan Stanley projects SpaceX revenue reaching $319 billion by 2030, driven by Starship operations expected to begin in the fourth quarter. Not all analysts are optimistic, with CFRA assigning a sell rating and a $115 price target.