SpaceX Stock Already Blew Past Two Of Three Price Targets — Here's What's Next

SpaceX (SPCX) jumped 6% on its second trading day Friday, clearing two of the three analyst price targets set at its IPO. The stock hit $176 intraday, surpassing New Street's $165 target and Wolfe's $175 mark, before closing near $170. Only Oppenheimer's $190 target remains above current levels.

New Street's bull-case scenario projects SPCX at $330 by 2040, built on assumptions of a $20 trillion space market with SpaceX capturing 50% market share. The firm's base-case $165 target has already been exceeded in the stock's first two sessions.

The rapid move past sell-side targets in 48 hours of trading raises questions about near-term price discovery for the newly public shares. With two of three targets breached and the third just 11% above Friday's close, SPCX is trading without meaningful resistance levels from the Street's initial coverage.