Raymond James Initiates SpaceX at Strong Buy, $800 PT
Raymond James analyst Brian Gesuale initiates coverage on SpaceX (NASDAQ: SPCX) with a Strong Buy rating and a price target of $800.
“We initiate coverage of SpaceX with a Strong Buy rating and an $800 price target, as we see the company as one of the defining industrial infrastructure companies of the 21st century.
Industrialized access to orbit and AI are driving the most significant infrastructure convergence since the advent of the Internet.
By lowering the cost of transporting mass to orbit, SpaceX is enabling a new infrastructure layer spanning transportation, communications, compute, manufacturing, and energy.
Just as railroads, electric grids, and the Internet reshaped prior economic eras, we believe SpaceX is building the foundational platform for the next generation of industrial capacity.”
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