In a notable move, Phillip Capital has become only the second firm to recommend selling SpaceX shares, following Morningstar's similar rating. The analysts at Phillip Capital have set a price target of $75 for the stock, suggesting a substantial drop of approximately 35% from its closing price earlier this week.
Their recommendation is based on concerns regarding SpaceX's substantial losses and negative cash flows, which they expect to persist until at least 2030. This cautious outlook reflects broader apprehensions about the company's financial health and could influence investor sentiment and market dynamics surrounding SpaceX