SpaceX's shares have recently experienced a decline of nearly 7% over the past week and more than 38% from their peak of $225.64, raising concerns about its valuation and ambitious goals.
However, Evercore ISI analyst Kutgun Maral believes the company's potential for growth remains strong, particularly if it successfully launches its heavy-lift vehicle Starship by the end of the year and expands its Starlink broadband service. Maral emphasized that the company's trajectory could lead to accelerated growth in the coming years.
The investment firm's positive outlook aligns with broader market sentiment, as 26 out of 31 analysts covering SpaceX maintain a buy or strong buy rating, suggesting a consensus on the stock's potential despite current challenges