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Barchart
Wajeeh Khan

SpaceX Stock Just Scored a New 'Buy' Rating. Here's Why.

SpaceX SPCX Argus Research Argus

SpaceX (SPCX) shares have pushed higher in recent sessions, but a senior Argus Research analyst, Steve Silver, believes they are poised for further gains ahead. Silver upgraded SPCX this morning to “Buy” and maintained his price objective at $160, indicating potential upside of more than 25% from current levels.

His bullish call brings a much-needed reprieve to SpaceX stock, which has been in a sharp downtrend since June 16. At the time of writing, it’s trading well below its year-to-date high.

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