SpaceX Rises 2.8% to $162 as Daiwa Initiate Coverage With $175 Target on July 2

According to Barron's, SpaceX rose 2.8% to $162 on Thursday (July 2), defying caution from two new Wall Street research reports. The S&P 500 ended flat while the Nasdaq declined; the Dow gained 1.1%.

Daiwa Securities analyst Jonathan Kees initiated coverage with a hold rating and $175 price target, valuing the company at approximately $2.4 trillion. Kees cited SpaceX's leadership in launch services, Starlink satellite communications, and xAI data center operations generating billions in revenue, balanced against risks from Starship development delays and massive capital requirements for orbital AI infrastructure.