Despite the stock not yet being active for trading on the Nasdaq, two Wall Street firms are already providing coverage and analysis—as well as price targets. The stock in question is SpaceX, which will make its debut today, and the two agencies are Oppenheimer and New Street. They have set price targets that are quite far apart, signaling the ongoing difficulty in pricing a stock that is hitting the market backed by massive hype.

First piece of news: both analyses are positive, setting a price higher than the $135 listing price. Second: at least one of the two offers a highly interesting price outlook. Third: we remind our readers that such forecasts are not always accurate.

SpaceX Coverage Begins

While waiting for other major players to weigh in, two prominent Wall Street firms have already started offering coverage of Elon Musk's company.

Oppenheimer is the more optimistic of the two: it has set a price target of $190, forecasting a growth of around 40% compared to the initial listing price. Speaking on behalf of the group is analyst Timothy Horan, who considers SpaceX the only vertically integrated company in the AI world, with hardware, capital, LLMs at its disposal, as well as a wide pool of engineering design and manufacturing talent.

New Street, through analyst Pierre Ferragu, is instead aiming for a lower target of $165. This would still mean, however, that the group has plenty of room to run upward. According to reports from several media outlets that picked up the analysis, the firm evaluated the company from two different perspectives: a sum-of-the-parts valuation and its growth prospects.

Visibility, Early Outlook, and Context

Without taking anything away from the two analyses mentioned above, it is necessary to remind our readers that forecasts and "coverage," as they are technically called, offer directional perspectives rather than exact price certainty.

For now, the key takeaway is that both firms that launched their SpaceX coverage ahead of time are actually bullish on the stock, believing there is room to see the company reach higher price levels and, consequently, a larger market capitalization.

Eisman believes that the SpaceX listing is actually a precursor to a merger with Tesla—a move that would get Elon Musk out of a tight spot and allow for the creation of a massive conglomerate. Within this structure, the more troubled companies could, to some extent, be diluted.

This latter group would include Tesla, which is currently suffering from competition from Chinese manufacturers and whose outlook is perhaps less bright than that of the newly formed group.