Wolfe Research assigns SpaceX a "Outperform the Market" rating, with a target price of $175.

BlockBeats News, June 13 — According to CNBC, Wolfe Research first initiated coverage of SpaceX in a report released Friday, giving it a “Outperform” rating, with a target price of $175. The target price offers nearly 30% upside versus SpaceX’s IPO offering price of $135. Wolfe Research said that although SpaceX’s $1.77 trillion valuation leaves many on Wall Street confused, its dominant position in the launch business supports this massive valuation. The firm said the launch business is at the core of SpaceX and provides other businesses with “attractive unit economics models”.

A 2025 report from the Georgetown University Center for Security and Emerging Technology shows that SpaceX is responsible for five out of every six U.S. space launches. Wolfe Research believes that the reusable rocket capability gives SpaceX a cost advantage and helps it maintain its dominant position. Walton said that Starship’s successful achievement of reusability is the “most important value-unlocking factor.” He also said that while SpaceX is not expected to outperform Anthropic or OpenAI on the model side, it is expected to build a cost advantage in the final compute competition through vertical integration and space-access capabilities.