Pivotal Starts SpaceX at Buy With $220 Target as 20-50 Starship Reuses Drive $2 Trillion Case
Updated
Updated · Yahoo Finance · Sep 8
Pivotal Starts SpaceX at Buy With $220 Target as 20-50 Starship Reuses Drive $2 Trillion Case
3 articles · Updated · Yahoo Finance · Sep 8
Summary
$220 is Pivotal Research's new price target on SpaceX, with analyst Jeffrey Wlodarczak initiating coverage at Buy and tying the thesis to Starship becoming reusable for 20-50 flights per vehicle.
$2 trillion in enterprise value depends largely on that engineering hurdle, he said, because cheap refurbishment and fast turnaround could cut launch costs toward terrestrial freight levels and unlock much larger markets.
Starlink, xAI and Colossus matter only after Starship works, Wlodarczak argued, saying failure on reusability would leave SpaceX a much smaller company.
Shares have rebounded to $147.95 from an Aug. 3 intraday low of $104.83, though the stock remains below its $225.64 post-IPO high after a loss-making first quarter as a public company and $18.4 billion in second-quarter capex.
Wall Street is still broadly bullish despite capex and monetization concerns, with about 80% of sell-side analysts rating the stock Buy or Strong Buy.