HSBC Initiates Coverage on SpaceX With $115 Price Target as Stock Closes Near That Level
On July 27, HSBC initiated coverage on SpaceX (NASDAQ: SPCX) with a 'Hold' rating and a price target of $115. The stock closed at $115.07 the same day, just slightly above the bank's estimate but significantly below its IPO price of $135 in June 2026 and far from its peak of over $225 shortly after going public. HSBC used a sum-of-the-parts valuation model to assess SpaceX’s worth. The firm applied an unusual 2x premium for Elon Musk's track record, yet still arrived at the conservative price target. Even in a best-case scenario where Starship becomes commercially viable and launch capacity doubles by 2027, HSBC valued the stock only as high as $293 per share. The average Wall Street price target remains around $237 — more than double the current level — with individual targets ranging from $62 to $800. This wide disparity reflects uncertainty in valuing SpaceX due to its unprofitable status and a market cap of over $1.5 trillion, which is 75 times trailing revenue.
Topics: HSBC price target SpaceX stock analysis