One Wall Street Analyst Sees More than 400% Upside in SpaceX Stock. Why I'm Still Not Buying.

Raymond James initiated coverage of SpaceX with an $800 price target, implying over 400% upside based on speculative future businesses like Earth-to-Earth cargo transport and space data centers. However, the analyst argues this valuation is unrealistic, as it values SpaceX at over $10 trillion despite current operating losses, and the company faces significant technical, regulatory, and economic hurdles to realize these ambitious projects.