UBS suggests that SpaceX may receive a valuation lift if its forthcoming rocket launch proves successful. In a research note released Wednesday, analyst Gavin Parsons noted that the company has implemented numerous hardware and software improvements since its previous mission. He added that the upcoming flight is expected to achieve several new milestones, an outcome he views as favorable for the stock.
The bank maintains a buy rating on SpaceX shares, with a price target of $210—approximately 54% above Tuesday’s closing price. The company’s 13th rocket launch is scheduled for Thursday. Parsons indicated that a successful mission would reinforce the bank’s projection of four commercial launches this year and 1,588 flights by 2031. He explained that Thursday’s test will prioritize deployment of Starlink V3 satellites, engine reliability, and controlled reentry procedures.
Parsons emphasized the significance of Flight 13, stating that it aims to verify critical capabilities needed for scaling launch operations, such as booster engine relight reliability, in-space Raptor engine restart, Starlink V3 satellite dispatching, and ongoing heat shield advancements.
SpaceX shares are currently trading modestly above their initial public offering price of $135, though they remain 40% below the $225.64 high recorded on June 16. The company completed the largest IPO in history, reaching a $2 trillion market valuation on its debut trading day. UBS’s stance aligns with broader Wall Street sentiment: according to LSEG, 26 of the 31 analysts tracking the stock hold buy or strong buy recommendations.
