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CFRA Analyst Maintains SpaceX Sell Rating With $115 Price Target on July 12

GateNews
Stocks
SPCX-4.26%
According to Business Insider, CFRA Research analyst Keith Snyder maintains a sell rating on SpaceX with a $115 price target as of July 12 (local time), stating that the company's growth projections lack concrete evidence. Snyder noted that SpaceX's inclusion in the Nasdaq-100 index did not change his assessment, and he continues to find the company's valuation burdensome. He stated that while the underlying technology is compelling, the financial figures disclosed in the company's S-1 filing are difficult to justify, and actual growth must materialize before his rating can be upgraded.
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