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Financial
Financial
Wedbush initiates SpaceX coverage with $190 price target
Wedbush Securities has started stock coverage on SpaceX following its recent IPO, assigning a $190 price target and an 'Outperform' rating. Analyst Dan Ives highlights SpaceX's diversification across three core markets: Starlink, Starship, and AI/compute projects. Starlink, with about 12 million subscribers, is considered the main driver of recurring revenue, though it holds less than 1% of the global telecommunications market. Starship is viewed as an essential layer for SpaceX's success, improving costs and launch cadence through rocket reuse. AI projects remain in early stages and are exclu
- Wedbush sets $190 price target for SpaceX shares
- Starlink has ~12 million subscribers and <1% global market share
- Starship reduces costs and increases launch cadence via reuse
🔎 Why it matters: Wedbush's initial coverage with a $190 price target underscores the importance of Starlink and Starship in SpaceX's valuation and strategy.
📈 Upside: Starship's rocket reuse lowers costs and improves launch frequency.
📉 Risk: Factors like Starship scaling and AI monetization face major hurdles and are excluded from valuation.
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