Good morning.
Wall Street’s analysts got off the sidelines on SpaceX, and the notes ran hot.
With the quiet period done and the stock sliding into the Nasdaq-100 less than a month after listing, a dozen-plus brokers of course slapped buy ratings on it (with valuations as high as USD10.5 trillion or USD800 each via retail-focused brokerage Raymond James).
The one voice with a sell rating, research house CFRA, put it at USD115.
| ▼ | ASX 200 | 8,804 | -0.31% |
| ▼ | ASX futures | 8,751 | -0.35% |
| ▼ | S&P 500 | 7,504 | -0.45% |
| ▼ | NASDAQ | 25,819 | -1.16% |
| ▼ | AUD/USD | 0.69 | -0.35% |
| ▲ | Bitcoin | 63,704 | +0.22% |
ASX 200 as at market close. Bitcoin in USD.
Market movers
Shares in wealth management platform Netwealth rose Tuesday after it secured an expanded mandate from Morgan Stanley’s Australian wealth unit and forecast funds under administration to grow between 17% and 30% in FY27.
SpaceX bulls