UBS Reiterates Buy Rating on SpaceX (SPCX)

UBS analyst John Hodulik reiterated a Buy rating and $210.00 price target on SpaceX (NASDAQ: SPCX).

The analyst comments "Following a solid 2Q print, we believe SpaceX had a number of wins in the quarter, including successful Starship launches, additional cloud compute deals, and strong adoption of new AI products. We now expect 3Q revenues of $13.8B (7% higher vs. Street $12.9B), and adj. EBITDA of $7.5B (+9% vs. Street $6.9B). The AI segment should lead the way with $7.6B in quarterly revenues driven by scaling up the Anthropic deal and initial contribution from Google. We believe Connectivity grew 59% y/y to $4.9B in revenues while Space revenues ramped to $1.3B from ~$1B in 2Q, supported by 35 launches. With capex at an estimated $19.3B, we believe the company burned $13.2B in cash during the quarter as it scales across its multiple business vectors."

For an analyst ratings summary and ratings history on SpaceX click here. For more ratings news on SpaceX click here.

Shares of SpaceX closed at $145.47 yesterday.

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