Raymond James Reiterates Strong Buy on SpaceX, $800 PT

Raymond James analyst Brian Gesuale reiterated a Strong Buy rating and $800 price target on SpaceX (NASDAQ: SPCX).

“Flight 13 represented another incremental de-risking event for Starship, successfully validating several of the most important V3 design upgrades while narrowing the remaining engineering challenges before full reusability.

The mission achieved its primary objectives, including strong heatshield performance, successful deployment of operational Starlink V3 satellites, a clean inspace Raptor relight, and an intact splashdown with Ship continuing to transmit telemetry.

The latter provides SpaceX with a vast amount of post-flight engineering data.

While Super Heavy again fell short of a fully successful landing burn, we believe the flight meaningfully reduced execution risk ahead of what could be the program’s next major milestone: the first attempt to catch Ship with the launch tower.”

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