Pivotal Research initiated coverage on Space Exploration Technologies Corp. (SPCX) with a Buy rating. The firm set a price target of $220.00. This valuation assumes the successful reusability of the Starship vehicle will revolutionize spaceflight economics.
J.P. Morgan strategists project the company’s weighting in the Nasdaq 100 index will nearly double. The free float increased substantially following the release of over one billion shares from post-IPO lockup. Passive funds tracking the index may need to purchase a net $15.5 billion in shares.
Investor interest remains high amid renewed speculation of a potential merger with Tesla. The stock drew significant market attention during Tuesday's trading session.