Evercore ISI initiated coverage of SpaceX (NASDAQ:SPCX) with an Outperform rating. The firm set a $230 price target, implying a 65% upside from recent trading levels. Analysts cited the company’s near-monopoly on orbital access and reusable launch technology as primary drivers for reshaping the industry.
Evercore forecasts revenue to compound at 106% annually through 2028. EBITDA is projected to grow at a compound annual rate of 157% over the same period. This bullish initiation arrives as the stock cools from its post-IPO highs.
Key growth milestones include successful Starship payload deliveries and the continued scaling of Starlink broadband. The analysis also highlighted significant long-term potential from SpaceX’s emerging AI ventures.