SpaceX stock has slipped to $149 per share, putting it below the company’s IPO opening price after only about three weeks in public markets. Even with that drop, Wall Street is lining up with a wave of bullish ratings as major funds prepare to buy.
The latest selloff came after SpaceX closed at $149.47, down 6.83%, according to finance.yahoo.com. The stock opened at $135 in its initial public offering, which priced shares at that level and raised $75 billion through the sale of about 555.56 million shares.
Big Banks Turn Positive
As SpaceX joins the Nasdaq 100, several large banks have initiated coverage with buy calls and high price targets. Their views point to a business that is being valued not just on launch activity, but on a broader push into connectivity and AI infrastructure.
| Firm | Rating | Price Target |
|---|---|---|
| JPMorgan Chase | Overweight | $225 |
| Morgan Stanley | Overweight | $300 |
| Goldman Sachs | Buy | $205 |
| Bernstein | Outperform | $239 |
| RBC Capital Markets | Outperform | $225 |
| Macquarie | Outperform | $250 |
| UBS | Buy | $210 |
| Deutsche Bank | Buy | $255 |
| Mizuho | Outperform | $200 |
| Bank of America | Buy | $235 |
JPMorgan Chase called SpaceX’s ambitions “bigger than any company’s we’ve ever seen,” and said the company still has meaningful upside after its public debut. Morgan Stanley pointed to “near-monopoly launch economics,” the world’s largest LEO satellite network, and a fast-scaling AI infrastructure business.
Why Analysts Still Like The Story
Goldman Sachs said SpaceX is positioned to scale across launch and reusability, connectivity through broadband and mobile satellite services, and AI through compute and X. The bank argued that each of those markets could become multiple trillion-dollar opportunities over a five-year-plus horizon.
Other firms focused on the company’s vertical integration, long-tenured management, deep technical expertise, and recent AI wins involving Anthropic, Google, and Reflection AI. Bernstein said the case for SpaceX is less about if it can hit its goals and more about when, even if some AI data center revenue arrives later than the company expects.
RBC Capital Markets said sentiment should benefit from SpaceX’s track record of disruption and innovation, as well as an almost $2 trillion 2035E TAM and what it called virtually unmatched financial resources. UBS also described SpaceX as an unparalleled set of assets with multiple drivers of upside for long-term, risk-tolerant investors.
Bank of America and Deutsche Bank also added Buy ratings, while Mizuho and Macquarie joined the group with Outperform calls. Together, the new coverage shows that even after the stock moved below its IPO opening price, large parts of Wall Street still see SpaceX as a long-duration growth story.
Jake Conley is a breaking news reporter covering US equities for Yahoo Finance.