SpaceX IPO quiet period ends, Wall Street firms upgrade ratings en masse

Odaily Planet Daily News: As the 25-day quiet period ends after SpaceX's (SPCX) IPO in June, Wall Street analysts have begun publishing formal research reports. Multiple major brokerages have issued bullish ratings, indicating institutional investors remain optimistic about the company's long-term growth potential.

As IPO underwriters, both Goldman Sachs and Morgan Stanley have assigned buy-equivalent ratings to SpaceX. Goldman Sachs analyst Eric Sheridan set a target price of $205, while Morgan Stanley analyst Adam Jonas gave a target price of $300. Additionally, institutions such as Bank of America, Citigroup, Deutsche Bank, JPMorgan, and UBS have also initiated coverage with buy or equivalent ratings. Among them, Raymond James Financial offered the most optimistic forecast; analyst Brian Gesuale initiated coverage on SpaceX with a "Strong Buy" rating and a target price as high as $800, believing SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century."

Analysis suggests that market optimism towards SpaceX is mainly based on its layout in rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a recurring source of revenue and support future expansion of launch scale.

As of March 31, 2026, SpaceX held 18,712 Bitcoins. Wall Street believes that the concentrated coverage after the IPO quiet period provides a window for institutional investors to systematically evaluate SpaceX's valuation for the first time. It is relatively rare in large IPOs for almost all major institutions to simultaneously issue positive ratings. (CoinDesk)