Redburn Lifts Linde Target to $560 as SpaceX Growth Opens $6 Million-Per-Launch Opportunity
Updated
Updated · CNBC · Jun 10
Redburn Lifts Linde Target to $560 as SpaceX Growth Opens $6 Million-Per-Launch Opportunity
1 articles · Updated · CNBC · Jun 10
Summary
$560 is Redburn's new price target for Linde, up from $550, with the firm reiterating a buy rating after the stock climbed 20% this year.
Space transportation drove the upgrade: Redburn said Linde's decades supplying NASA, ties to newer launch companies and gas infrastructure near SpaceX's Starbase position it to benefit from rising launch demand.
Starship could sharply expand that demand because it may use about 10 times the oxygen of a Falcon 9 launch, lifting Linde's revenue per launch to nearly $6 million by 2028 from under $4 million in 2025.
The note comes as SpaceX is set to debut on Nasdaq on Friday at a planned $1.77 trillion valuation, a backdrop Redburn sees as supporting contract wins, backlog upgrades and further earnings catalysts for Linde.
With SpaceX now producing its own fuel, is Linde's space-sector boom already on a countdown?
Is this industrial gas giant the safest bet on the trillion-dollar commercial space race?
Could a shortage of industrial gas ground the entire next-generation space industry?
SpaceX’s Trillion-Dollar IPO: How Starship’s Launch Boom Fuels a $6 Million-Per-Launch Opportunity for Linde and the New Space Economy
Overview
SpaceX’s historic IPO, the largest ever, signals a new era for the commercial space industry. By skipping the usual price range and setting a single stock price, SpaceX stands out in a market eager for fresh stories beyond short-term earnings. Central to its vision is the Starship rocket, which drives the company’s high valuation and long-term ambitions. While Starship’s test record is mixed, its ongoing development highlights SpaceX’s commitment to reducing space access costs and enabling bold missions. This IPO not only reshapes investor expectations but also sets the stage for transformative growth in space technology and related industries.