Wall Street Gets Bullish on SpaceX as Stock Targets Rise

Wall Street has shifted its outlook on SpaceX as the company reported a solid second quarter. Shares jumped 15.8 percent on Friday to reach a closing price of $133.11. This move followed a decision by Argus Research to upgrade the stock from Hold to Buy, accompanied by a new price target of $160.

The optimism stems from impressive revenue of $7.8 billion, a 92 percent increase compared to the same period last year. While the company is spending heavily on infrastructure, analysts are noting that the return on these investments appears faster than expected. Morgan Stanley maintains its aggressive $300 price target, signaling continued long term confidence despite broader market fluctuations.

Several factors outside of the company earnings are influencing the current momentum. Weak US jobs data has sparked interest in riskier assets, benefiting stocks across the board. Investors are also watching how the market handles the recent expiration of IPO lock up periods, which have made millions of additional shares available for trading.

Looking ahead, the gap between the $160 and $300 price targets highlights a split in how analysts view the company future. Success will likely depend on whether the company maintains its rapid payback on capital spending and how well liquidity handles the remaining share unlocks expected later this year.