(Updated to include KeyBanc commentary)
KeyBanc initiated coverage on SpaceX (SPCX) with sector weight rating, noting that the company possesses significant disruptive growth avenues, but this is reflected in current valuation and risk/reward is balanced.
The rocket firm is well positioned to maintain its dominant position in space launch and space-adjacent verticals for the foreseeable future, capitalizing on its competitive head start, analysts led by Michael Leshock wrote.
Additionally, Starlink is viewed as a key driver of profitable growth, with improved capabilities (direct-to-cell) and faster speeds to be enabled by Starship and Starlink V3 satellites in H2, the analysts mentioned.
SpaceX has an average rating of overweight and mean price target of $254.67, according to analysts polled by FactSet.
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Price: $167.79, Change: $-17.22, Percent Change: -9.31%