DZ Bank Tells Clients To Sell SpaceX. Sees Stock Falling To $100.
DZ Bank has issued a Sell rating on SpaceX shares, with a target price of $100, indicating a potential 25% decline from its current level of $134. This is the only bearish analyst opinion among over 40 actions from analysts covering the stock. The rating stems from concerns over the company's upcoming capital expenditures, a pending acquisition, and a significant supply of shares entering the market post-lockup expiration.
SpaceX, a vertically integrated aerospace, telecommunications, and AI company, recently saw revenue rise 14.59% year-over-year, with a loss per share of $0.09. Despite strong AI segment growth and a substantial backlog, the company's high CapEx levels and pending acquisition may pose challenges to achieving its ambitious revenue targets by 2030.
The analyst behind this outlook also noted that SpaceX did not make the list of top AI stocks selected by an expert who previously accurately predicted the rise of NVIDIA.
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