Wall Street Thinks SpaceX Is a Buy. Here's Why I'm Not So Sure

Space Exploration Technologies (NASDAQ: SPCX) has been a hot topic on Wall Street since it went public in June in what was the largest IPO in history. Many analysts are quite excited about the company's prospects. SpaceX's one-year average price target, according to Yahoo! Finance, is $222.32 (as of writing), which implies a 58% upside from current levels. Price targets run as high as $450. That's quite ambitious for a company that, since going public, has actually declined from its $150 opening price. Despite Wall Street's optimism, I am rather skeptical that SpaceX can deliver such outstanding returns over the next year. Image source: The Motley Fool.SpaceX's business encompasses artificial intelligence (AI), satellite-based internet services, and spacecraft launch services. The company has made meaningful progress across all three segments this year. Let's start with Starship, the company's next-gen, fully reusable rocket. Starship is still in testing, and in late July, SpaceX conducted its 13th successful test flight. Starship is central to SpaceX's space ambitions.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool