Oppenheimer Predicts Over 40% Upside For Elon Musk's SPCX Ahead Of Blockbuster IPO: 'We See It As The Only...'

Oppenheimer launched coverage of SpaceX ahead of its IPO, setting a $190 price target representing 41% upside from the $135 IPO price. The bank views SpaceX as a vertically-integrated AI company with significant potential, though it warned of operational volatility and manufacturing challenges. The IPO has generated massive retail interest with $70 billion in orders, but faces criticism from Senator Elizabeth Warren over valuation accounting and governance concerns. Some analysts view the company as richly valued.