Oppenheimer Pioneers SpaceX Coverage Ahead of $75 Billion Market Debut

Oppenheimer starts coverage on SpaceX before its market debut, projecting a $2.5 trillion market cap in 12-18 months. With a $190 price target, the brokerage anticipates significant growth, driven by Starlink and AI initiatives. Analysts suggest a potential Tesla merger, envisioning a $10 trillion market by 2035.

Oppenheimer has become the first global brokerage to initiate coverage of SpaceX, the rocket and AI company owned by Elon Musk, as it prepares for an anticipated $75 billion market debut on Friday.

The brokerage has assigned an 'outperform' rating to SpaceX with a price target of $190, indicating a potential upside of nearly 41% from its IPO price of $135. Oppenheimer forecasts SpaceX's market capitalization to reach approximately $2.5 trillion within 12-18 months.

Brokerages outside the IPO syndicate, such as Oppenheimer, face no post-listing quiet period, allowing them to publish stock assessments prior to or soon after SpaceX's market debut, with demand expected to outpace supply rapidly.