Bank of America Reiterates Buy Rating on SpaceX Amid Successful Orbital Flight
SpaceX's recent successful orbital flight with its Starship rocket has reinforced Bank of America’s bullish stance, despite a short-term dip in the stock price. The company joined the Nasdaq-100 index shortly after its IPO in June 2026 and is now held by many retirement funds like Invesco QQQ Trust (QQQ), meaning millions of investors have indirect exposure to SpaceX without actively choosing it. The flight, while not perfect—cut short due to an unplanned engine shutdown—demonstrated key milestones such as the deployment of Starlink satellites and a controlled reentry. Analyst Ronald Epstein reiterated his $235 price target for SpaceX (SPCX), implying about 60% upside from recent levels. The long-term viability of SpaceX's business model hinges on its ability to rapidly reuse rockets, which would reduce launch costs significantly. The performance of the heat shield during reentry is a critical factor in proving this capability.
Topics: 401(k) index funds IPO impact Nasdaq-100 SpaceX