Macquarie reaffirmed its Outperform rating for Space Exploration Technologies Corp. (SPCX). The firm maintained a $250 price target for the company.
Analysts led by Paul Golding recommend buying the stock following a significant post-IPO sell-off. The firm identifies a disconnect between the current share price and the company's intrinsic value.
Macquarie highlights growth potential in AI infrastructure and orbital data center operations. The valuation relies on scaling space access, satellite broadband, and AI compute segments.
Analysts argue that the market currently undervalues the company's long-term expansion opportunities.