SpaceX shares closed Friday at $147.98, roughly 10% above their $135 IPO price, after the company's June 12 debut raised $75 billion in the biggest IPO in history. Oppenheimer analyst Timothy Horan raised his price target to $280 from $250, citing SpaceX's ability to capitalize on AI-driven computing demand, while Deutsche analyst Edison Yu called the company's $100 billion year-end revenue run-rate target "likely very achievable." However, Morgan Creek Capital founder Mark Yusko called the valuation "beyond silly," noting that a 10x return from the current $2 trillion market cap would require SpaceX to grow into a $20 trillion company, which he called "a mathematical impossibility." Lockup expirations have already freed 911.5 million shares in August, with more scheduled through next year, potentially adding selling pressure.
Oppenheimer Holdings Inc
