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CFRA Starts SpaceX (SPCX) Coverage With Sell Rating and $115 Target
CFRA initiated coverage of SpaceX (NASDAQ: SPCX) with a "Sell" rating and set a $115 price target following the company's IPO, which raised $75 billion by pricing 555.6 million shares at $135 each. On June 12, the stock opened at $150, traded up to $176, and finished around $160.95, about 19% above the IPO price, lifting market capitalization above $2 trillion. Wall Street remains split, with TipRanks showing a "Hold" consensus from two analysts and an average 12-month target of $152.50.