SpaceX receives first buy rating from global brokerages, Morgan Stanley leads with $300 price target

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BlockBeats news, July 7, global brokerages have begun initiating coverage on Musk's SpaceX (SPCX.O), and Wall Street has initially formed a consensus: buy the stock. At least six brokerages including Morgan Stanley, Goldman Sachs, and UBS have given buy ratings, optimistic about its long-term growth prospects, despite lingering doubts about profitability and valuation.

In a July 7 report, Morgan Stanley analysts stated: "SpaceX can convert energy into intelligence at scale and commercialize it through consumer and enterprise solutions in the AI era." Its target price is $300, which currently tops Wall Street investment banks, implying an 87% upside from Monday's closing price of $160.42. The analysts believe that SpaceX's stock price could be as low as $75 and as high as $600 under bear and bull scenarios respectively, with revenue reaching $319 billion by 2030 and $3.3 trillion by 2040. (Jin Shi)

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