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HSBC Just Started Covering SpaceX With a $115 Price Target. The Stock Closed Friday at $115.07.
The Motley Fool·
HSBC initiated coverage of SpaceX with a Hold rating and $115 price target, below the company's $135 IPO price. Despite applying a 2x premium for CEO Elon Musk's innovation track record, the bank concluded the stock's current valuation already reflects much of its long-term growth potential. SpaceX shares closed at $115.07, roughly 50% below their post-IPO high of $225.64, trading at over 75x sales with no profitability yet.
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