Bank of America initiated coverage of SpaceX (SPCX) with a Buy rating. The bank established a $235 price target, representing significant upside from recent prices. Analyst Ron Epstein characterized the firm as a foundational enabler of the space economy.
The valuation stems from a long-term discounted cash flow model. BofA views SpaceX as a diversified platform including launch services, Starlink, Starshield, and orbital computing.
Future expansion depends on the successful commercialization of the reusable Starship rocket. This vehicle remains critical for Starlink growth and future orbital compute infrastructure.