As of September 2, the stock price of SpaceX has remained above the issue price of IPO for four consecutive weeks. After the stock price performance stabilized relatively, Wall Street institutions began to raise their expectations for this stock over the next year.
Oberhaimer raises target price
Oppenheimer analyst Timothy Horan reiterated a "buy" rating on SpaceX on Wednesday and raised the 12-month target price from $250 to $280, an increase of about 12%.
Calculated at this target price, the institution believes that SpaceX still has room to rise in the coming year and may reach new historical highs.
Above the issue price for four consecutive weeks
The report mentions that the stock price of SpaceX has remained above the price of IPO for four consecutive weeks. This trend indicates that the stock has performed relatively stably in the post-listing period.
For securities firms, consistently maintaining the issue price is generally seen as a signal that supports valuation judgments, and it has also become an important backdrop for this upward adjustment of the target price.
Institution maintains a buy rating
While raising the target price, Oppenheimer did not adjust the original rating, maintaining a 'buy' judgment. This indicates that the institution's attitude towards the medium-term stock price performance of SpaceX is more positive than before.
The currently available information mainly focuses on rating changes and target price adjustments; no new operational data or financial details have been disclosed.
