Wall Street is getting bullish on SpaceX again ahead of test flights
Next flight test could be a major catalyst for the stock, Morgan Stanley says.
TL;DR
- SpaceX shares are approaching their IPO price after recent declines.
- Analysts at Morgan Stanley and Wells Fargo have 'overweight' ratings on SpaceX.
- The next Starship test flight, Flight 15, is expected soon, with a potential 'ship catch' event as a major catalyst.
- Starship's reusability and high payload capacity are key drivers of expected future profitability.
- SpaceX holds an 82% share of the private launch market.
- Wells Fargo notes SpaceX is redeploying engineers to orbital data center work and prioritizing AI satellites.
- Deutsche Bank suggests the entire space sector may be nearing a rebound after significant corrections.