SpaceX is generating significant excitement as it prepares for its initial public offering (IPO), with reports indicating retail investors could submit orders exceeding $70 billion. This unprecedented interest underscores a strong appetite among individual buyers eager to participate in the company’s public debut.
Leading Wall Street firms have responded with optimistic coverage. Oppenheimer initiated its coverage on SpaceX stock with an “outperform” rating and set a price target of $190, substantially higher than the projected IPO price of $135. The firm highlighted SpaceX’s potential to merge space infrastructure with AI technologies and leverage terrestrial computing to scale its services cost-effectively.
Another major research firm, New Street Research, assigned a price target of $165, reflecting a notable premium over the IPO price and reinforcing positive market sentiment. These valuations indicate Wall Street’s confidence in SpaceX’s growth prospects and innovative business strategies.
SpaceX plans to allocate at least 20% of its shares to retail investors, aiming to widen participation beyond institutional buyers. However, international investors may have limited access, with less than 10% of shares expected to be allocated outside the United States, emphasizing a U.S.-centric focus for the offering.
Despite strong investor enthusiasm, the proposed IPO date has faced calls for delay from Senator Elizabeth Warren, who urged the U.S. Securities and Exchange Commission to reconsider the timing. This request has sparked debate across global markets but has not dampened early confidence from retail and institutional investors alike.
In related developments, Oppenheimer also raised its price forecast for Tesla stock, citing sustained demand for electric vehicles amid high oil prices. The firm connected Tesla’s near-term momentum to SpaceX's IPO excitement but noted that Tesla’s long-term performance would depend heavily on its AI strategy and EV market conditions.