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International Business Times
International Business Times
Business

SpaceX Shares Have Pulled Back From Their Peak. TD Cowen Says AI Compute Could Drive A Rebound.

SpaceX TD Cowen Anthropic John Blackledge Starlink CNBC Earth Starship
SpaceX began trading publicly in June after pricing its initial public offering at $135 a share. (Credit: Getty Images)

SpaceX shares could recover from their sharp retreat from post-IPO highs as the company's growing artificial intelligence computing business adds another major source of revenue alongside Starlink and launch services, according to TD Cowen.

Analyst John Blackledge initiated coverage of SpaceX with a buy rating and a $200 price target, implying roughly 37% upside from Monday's closing price of $145.47, according to CNBC, which reviewed the firm's research note. The stock was climbing further on Tuesday, up by more than 2% at 3:28 p.m. ET.

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