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Raymond James sets $800 price target for SpaceX after successful Starship flight
After a rough IPO start, SpaceX (NASDAQ: SPCX) received a "Strong Buy" rating and an $800 price target from Raymond James, about seven times its current $113 trading price. This update is based on the success of Starship's 13th test flight, which included a successful heat shield test, deployment of Starlink V3 satellites, and in-space engine relight. Both the rocket and the Super Heavy booster landed safely in the Indian Ocean and Gulf of Mexico, respectively, reducing engineering risks and boosting analyst confidence.
- $800 price target, seven times the current $113 price
- 13th Starship test flight with successful Starlink V3 satellite deployment
🔎 Why it matters: Starship's 13th test flight version reduced key technical risks, prompting Raymond James' new price target.
📈 Upside: Increased analyst confidence due to successful heat shield test and in-space engine relight.
📉 Risk: Not applicable.
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