SpaceX Receives $165 Price Target From New Street Research Analyst

*Pierre Ferragu cites growth expectations, capital spending plans, and a Musk premium in his valuation of the company after its record-breaking IPO.*

Pierre Ferragu, managing director at New Street Research, set a $165 price target for SpaceX. He laid out the figure during a discussion of the company’s recent IPO on Bloomberg.

The target reflects Ferragu’s outlook on future growth and the scale of capital expenditures the firm will require. He also noted that the valuation incorporates a “Musk premium.”

No additional financial details or comparisons to other analyst estimates were provided in the segment.

Why it matters

The price target gives public-market investors one early data point on how Street research houses are modeling SpaceX’s standalone economics after the IPO. With limited disclosure from the company itself, such views will shape trading ranges until SpaceX releases more operating metrics.

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Sources:

• Bloomberg Technology

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