SpaceX IPO sparks mixed market reaction as analysts set cautious price targets

Analyst Dan Ives of Wedbush issued the first buy recommendation for SpaceX, setting a price target of $190. The stock fell about 7.8% the day after the IPO before recovering to a modest gain the following session. Ives highlighted the company's three main segments—Starship launch services, the Starlink satellite network, and an emerging artificial‑intelligence division—estimating the AI unit could generate more than $80 billion in revenue by 2028.

Fundstrat Research head Tom Lee said any pullback in SpaceX shares after the upcoming share unlock presents a buying opportunity for long‑term investors, noting the historic illiquidity of the stock and the likelihood of short‑term volatility as secondary‑market activity expands. Both analysts cautioned that valuation remains difficult because most of SpaceX's growth is expected to materialise over decades.

The combined coverage reflects broader market interest in the private‑company’s transition to a publicly tradable asset and the potential impact of its cost‑reducing Starship technology on launch economics.