SpaceX shares are still 39% below their June peak, and J.P. Morgan told clients on Tuesday to buy them anyway, at a target of $240 (£176). A rival figure of $95 (£70) is circulating alongside it, and that figure is not an analyst target at all. Shares in Space Exploration Technologies closed at $137.95 (£101) on Wednesday. The company listed on the Nasdaq in June in the largest flotation ever staged, and it has spent most of the time since falling.
The $95 comes from a Motley Fool column published on Wednesday, which used it as an explicitly extreme bear case for 2028. Its author, Steven Porrello, reached the number by applying a hypothetical multiple of 12 times sales, and put his own likelier estimate at $160 (£117). Wall Street's lowest actual price target is lower still, at $75 (£55), and it belongs to Phillip Securities. Glenn Thum, the analyst behind it, reiterated a Sell rating in August.
