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

Mars Finance News, June 13, according to CNBC. In a Friday report, Wolfe Research initiated coverage of SpaceX for the first time, giving it a “Outperform the Market” rating, with a target price of $175. The target price implies nearly 30% upside compared with SpaceX’s $135 IPO offering price. Wolfe Research said that although SpaceX’s $1.77 trillion valuation leaves many on Wall Street puzzled, its dominant position in the launch business supports this massive valuation. The firm said that the launch business is the core of SpaceX and provides “attractive unit economics models” for other businesses.

A 2025 report from the Georgetown University Center for Security and Emerging Technology shows that SpaceX accounts for five out of every six U.S. space launches. Wolfe Research believes that the reusability of its rockets 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-release factor.” He also said that while he does not expect SpaceX to outperform Anthropic or OpenAI on the model side, he expects SpaceX to build a cost advantage in the final compute competition through vertical integration and space-entry capabilities.