XSPC
Not cheap? Apparently, very cheap
SpaceX is back in the spotlight after a major banking giant updated its 12-month price target and made the case that the stock is not only cheap, but getting cheaper. That’s a spicy take for a company that always seems to trade somewhere between “category king” and “how is this so expensive?”
Why this matters
This is classic Wall Street double-speak with money attached. When a big bank changes its view on a private-market-heavy story like SpaceX, it can reset expectations for everything from growth to valuation to how much hype is already baked in.
The investor angle
For SpaceX bulls, this is another confidence check that the market may still be underestimating the company’s long runway. For skeptics, it’s a reminder that even the most expensive-looking names can still have upside if the underlying business keeps firing.
Big picture: SpaceX doesn’t need everyone to agree it’s cheap — it just needs enough people to keep bidding anyway.