{"id":1674,"date":"2026-06-11T16:09:43","date_gmt":"2026-06-11T16:09:43","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1674"},"modified":"2026-06-11T16:09:43","modified_gmt":"2026-06-11T16:09:43","slug":"oppenheimer-launches-wall-streets-first-coverage-of-spacex-with-bullish-outlook","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1674","title":{"rendered":"Oppenheimer launches Wall Street&#8217;s first coverage of SpaceX with bullish outlook"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div>\n<ul>\n<li><svg><\/svg>\n<div>\n<div>\n<div><button><span><span>Follow<\/span><\/span><\/button><\/div>\n<\/div>\n<\/div>\n<\/li>\n<li><svg><\/svg>\n<div>\n<div>\n<div><button><span><span>Follow<\/span><\/span><\/button><\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div>June 11 (Reuters) &#8211; Oppenheimer became the first global brokerage to start coverage of SpaceX (SPCX.O)<svg><\/svg><span>, opens new tab<\/span>, ahead of the rocket \u200band AI company&#8217;s highly anticipated $75 billion market debut on Friday.<\/div>\n<div>The brokerage \u200cissued an &#8220;outperform&#8221; rating and set a price target of $190, implying an upside of nearly 41% to SpaceX&#8217;s IPO price of $135.<\/div>\n<div>The $190 price target means Oppenheimer expects Elon Musk-led SpaceX, aiming for \u200ba $1.75 trillion IPO valuation, to notch a market capitalization of about $2.5 \u200btrillion in the next 12-18 months.<\/div>\n<div>&#8220;We see it as the \u2060only vertically integrated AI company with the required capital, data, LLMs, hardware, \u200bmanufacturing and engineering talent,&#8221; Oppenheimer analyst Timothy Horan said in a note published \u200bon Thursday.<\/div>\n<div>Horan expects the Starlink satellite internet service to be the main cash generator, and SpaceX&#8217;s AI business, including xAI, to become the largest contributor over time.<\/div>\n<div>An eventual merger \u200bwith Tesla (TSLA.O)<svg><\/svg><span>, opens new tab<\/span> is &#8220;plausible&#8221;, Horan noted, but believes both companies will &#8220;remain a quasi-vertically \u200bintegrated ecosystem&#8221; to maintain access to capital.<\/div>\n<div>New Street Research soon followed, initiating coverage with a \u200c12-month \u2060price target of $165.<\/div>\n<div>But not all analysts are bullish.<\/div>\n<div>Earlier this month, Morningstar analysts pegged SpaceX&#8217;s valuation at $780 billion, less than half of what the company is reportedly targeting in its IPO, saying prospects for its AI business, which includes xAI \u200band social media platform \u200bX, were \u2060uncertain.<\/div>\n<div>Unlike the IPO&#8217;s underwriters, which must observe a post-listing quiet period before initiating research coverage, brokerages outside the syndicate \u200bface no such restrictions and can publish their views on \u200bthe stock \u2060shortly before or immediately after its market debut.<\/div>\n<div>J.P. Morgan, Goldman Sachs and Morgan Stanley are among the more than a dozen underwriters for the IPO.<\/div>\n<div>Oppenheimer&#8217;s Horan \u2060expects &#8220;an \u200binitial demand\/supply imbalance on SPCX shares given broad \u200bretail demand and accelerated index inclusion,&#8221; following the market debut.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1672\">SpaceX by the numbers: Six charts mapping businesses driving its IPO ambitions<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1667\">Explainer: Taking Kharg Island would pose risks for US troops<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1665\">On brink of IPO, Musk\u2019s SpaceX already a household name, Reuters\/Ipsos poll finds<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oppenheimer became the first global brokerage to start coverage of SpaceX , ahead of the rocket \u200band AI company&#8217;s highly anticipated $75 billion market debut on Friday.<\/p>\n","protected":false},"author":1,"featured_media":1673,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[119],"class_list":["post-1674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ev-strategy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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