UBS: SpaceX Upcoming Launch Could Boost Stock, Maintains Buy Rating

According to CNBC, UBS said SpaceX could receive a boost if its upcoming rocket launch is successful. Analyst Gavin Parsons wrote in a note on Wednesday that the company has made multiple hardware and software upgrades since the last flight, and that this flight would demonstrate new milestones and be positive for the stock. UBS has a buy rating on SpaceX with a $210 price target, implying a 54% upside from Tuesday's close. The 13th rocket launch is scheduled for Thursday and will focus on deploying Starlink V3 satellites, engine reliability, and controlled reentry. Parsons said the flight is important for validating key capabilities required for the bank's forecast of four commercial launches this year and 1,588 flights in 2031. Shares of SpaceX are hovering slightly above their IPO price of $135 but have fallen 40% from a peak of $225.64 reached on June 16.