Wall Street analyst hikes SpaceX stock price target by 233%

SpaceX (NASDAQ: SPCX ) received a massive upgrade from Phillip Securities on October 23, when analyst Glenn Thum upgraded the space company from “Sell” to “Buy” and increased his SpaceX stock price target from $75 to $250. The new price forecast, which represents a 233% increase from the previous one, assumes that compute demand is running ahead of supply. The analyst also noted that SpaceX’s contracts are renewing at higher prices per watt, which should be another catalyst.

Source: Finbold