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EN590 Commodities GroupMarket Analysis 2026-06-12T06:34:34.000Z
Oppenheimer initiated coverage of SpaceX (SPCX) with an Outperform rating and a $190 price target on Thursday, one day before the company begins trading on the Nasdaq under the ticker SPCX. The price target implies around 40% upside from the $135 IPO price and values the firm at a hefty $2.5 trillion. Analyst Timothy Horan said SpaceX intends to converge communications and cloud computing using space-based infrastructure, calling it "the only vertically-integrated AI company with the required capital, data, LLMs, hardware, manufacturing and engineering talent." The firm sees a potential $10 trillion total addressable market by 2035. Key to that return isspace-based, or orbital, data centersand getting that equipment up into space. Horan noted SpaceX is targeting 10,000 Starship launches pe
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