CFRA Slaps SpaceX With Sell Rating, Sees $115 Stock Despite $135 IPO
Updated
Updated · CNBC · Jun 12
CFRA Slaps SpaceX With Sell Rating, Sees $115 Stock Despite $135 IPO
1 articles · Updated · CNBC · Jun 12
Summary
$115 is CFRA's 12-month target for SpaceX, issued minutes after its Nasdaq debut and well below both its $135 offering price and roughly $174 afternoon trading level.
CFRA said SpaceX's valuation already assumes major execution wins, with Starship's unproven viability the biggest risk to justifying a market value that started at $1.77 trillion.
Starship sits at the center of multiple growth bets—Starlink expansion, orbital AI infrastructure and satellite-to-mobile services—so delays or technical setbacks could hit nearly every major initiative.
Wolfe Research also framed Starship as the key value driver, saying full reusability could lift margins by another 10% and become the company's single most important unlock.
Is SpaceX's $1.77 trillion valuation a visionary bet or the market’s most dangerous gamble?
With its entire empire riding on Starship, what happens if the colossal rocket fails to deliver?
SpaceX’s Record-Breaking $2 Trillion IPO: Valuation Debates, Market Volatility, and Global Investment Impacts
Overview
SpaceX made history with its public debut on June 12, 2026, trading under the ticker SPCX after officially pricing its offering the day before. The stock opened just above $150 and quickly soared, trading 13% above its $135 target price, with shares hovering between $162 and $165 by noon. This strong start pushed SpaceX’s valuation over $2 trillion, reflecting huge investor confidence. The IPO’s record-breaking launch highlights both the excitement and volatility surrounding SpaceX, as the company transitions from a private giant to a major force in the public markets.