SpaceX receives first buy ratings from global brokerages, Morgan Stanley leads with a target price of $300.

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ME News, July 7 (UTC+8), global brokerages have begun initiating coverage on Elon Musk's SpaceX (SPCX.O), with Wall Street initially forming a consensus: buy the stock. At least six brokerages, including Morgan Stanley, Goldman Sachs, and UBS, have given buy ratings, bullish on its long-term growth prospects despite lingering concerns over 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 price target 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 in a bear case and as high as $600 in a bull case, with revenue reaching $319 billion by 2030 and $3.3 trillion by 2040. (Jin Shi) (Source: BlockBeats)
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