SpaceX (NASDAQ: $SPCX) Stock Pushes Higher to $173.17 Following Morgan Stanley’s Growth-Adjusted Discount Analysis.
SpaceX shares rose 1.22% to $173.17 in pre-market trading, following a 7.63% gain to $171.09 on Monday. The rally was driven by strong Wall Street backing, with Morgan Stanley reiterating its $300 price target and noting the stock is undervalued relative to its growth, while Goldman Sachs raised its target to $230.
At first glance, SpaceX might look expensive because its stock trades at 30 times its projected 2028 earnings, compared to an average of 16 times for similar tech giants. However, Morgan Stanley notes that this metric ignores SpaceX's rapid growth. Factoring in future expansion drops its valuation 40% below peers, supporting a $300 price target.
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SpaceX shares rose 1.22% to $173.17 in pre-market trading, following a 7.63% gain to $171.09 on Monday. The rally was driven by strong Wall Street backing, with Morgan Stanley reiterating its $300 price target and noting the stock is undervalued relative to its growth, while Goldman Sachs raised its target to $230.
At first glance, SpaceX might look expensive because its stock trades at 30 times its projected 2028 earnings, compared to an average of 16 times for similar tech giants. However, Morgan Stanley notes that this metric ignores SpaceX's rapid growth. Factoring in future expansion drops its valuation 40% below peers, supporting a $300 price target.
#Crypto