SpaceX Receives 'Outperform' Rating with Potential Upside of 101.12%

SpaceX's stock has received an 'outperform' rating from investment analysts at Royal Bank Of Canada in a report issued on Monday. The bank set a target price of $225.00, indicating a potential upside of 101.12% from the company's previous close.

This is not the first time SpaceX has been given this rating; Wedbush and Evercore have also issued 'outperform' ratings with target prices of $190.00 and $230.00 respectively. However, some analysts are more cautious, with Cfra setting a 'sell' rating and Zacks Research raising its rating from 'hold' to 'moderate buy'.

Despite the mixed views, investors appear to be optimistic about SpaceX's long-term growth potential, particularly in areas such as reusable rockets and Starlink expansion. Cathie Wood has been buying into the stock, citing its potential for substantial profits in these areas.