SpaceX completed its 75 billion-dollar IPO in June and the 25-day silent period is over. With the launch of formal coverage by underwriter banks and large-scale coupons, Wall Street is optimistic about the company as a whole, and the latest stock prices are still higher than the issue price.
Multi-line start-up coverage
On Tuesday, major underwriters such as Goldman Sachs and Morgan Stanley took the lead in launching the study. Most agencies rate the equivalent of “buy-in”, ranging from $205 to $800.
Of these, Eric Sheridan, a Goldmanian analyst, gave a target price of $205 and Adam Jonas, a Morgan Stanley analyst, a target price of $300. Banks in the United States, Citicorp, Deutsche Bank, Morgan Chase, McGrey, RBC Capital Markets, Swiss Bank and the Bank of Rich Countries also give buy-in or equivalent ratings.
The equity price is still higher than the issue price
SpaceX was listed in June, and the IPO size reached $75 billion, one of the largest listed transactions this year. The company's issue price was US$ 135 per share and US$ 150.93 per second of the day.
- IPO issue price is $135
- Tuesday's share price, $150.93.
- It's 6% higher than the market.
It's a lot of money.
Analysts generally mentioned that SpaceX simultaneously covered a number of more rapidly growing operations, including rocket launch services, Starlink satellite broadband and government contracts. These operations are seen as important underpinnings of corporate valuation.
Some agencies also mentioned that the Starlink communications business had a continuing revenue feature, and that the expansion of the frequency of launch also helped to increase the overall scale of operations. This makes SpaceX not only a space company, but also an enterprise with infrastructure attributes.
The article also mentioned that, as at 31 March, SpaceX held 18,712 bitcoins. This information increases the company ' s access to encrypted assets, but the core of the voucher ' s coverage remains focused on space, communications and government business prospects.