SpaceX IPO Spurs Bullish Wall Street Analyst Coverage

Space Exploration Technologies Corp. (SpaceX) went public on June 12, 2026, pricing its shares at $135 and raising roughly $85 billion, valuing the company at about $1.5‑2 trillion. The debut made SpaceX the largest IPO in history and lifted its market cap to over $1.7 trillion.

Within days, major Wall Street banks – Goldman Sachs, Morgan Stanley, UBS, JPMorgan, Raymond James, Bank of America, Citigroup, and others – initiated coverage, issuing predominantly “buy” or “overweight” ratings. Analyst price targets span a wide range, from a low of $131 (Moffett Nathanson) to a high of $800 (Raymond James), with a median around $200‑$250. The bullish outlook rests on SpaceX’s near‑monopoly in reusable launch services, the rapidly growing Starlink satellite broadband business, and emerging AI‑related initiatives.

The stock has oscillated between $147 and $225 since the IPO, currently trading near $150‑$160. Analysts cite risks such as regulatory scrutiny, the uncertain timeline for Starship’s operational debut, and the extremely high valuation multiples (over 120× 2025 revenue). The company’s complex lock‑up schedule, with multiple tranche releases through 2026, adds further volatility.

The IPO also generated significant fee revenue for underwriting banks, estimated at $500 million, and is expected to boost their second‑quarter earnings. Overall, Wall Street’s enthusiasm is tempered by caution over execution risk and the disparity between the company’s earnings and its market price.