SpaceX Stock Rises 2.8% to $162 Despite Bearish Wall Street Reports on July 2

According to Barron's, SpaceX stock rose 2.8% to $162 on July 2, defying two newly published Wall Street research reports that took a cautious stance on the company's valuation.

Daiwa Securities analyst Jonathan Kees initiated coverage with a hold rating and $175 price target, valuing SpaceX at approximately $2.4 trillion. Kailash Concepts issued a more bearish report, describing SpaceX's 100x revenue valuation as catastrophic. Both firms highlighted that SpaceX's trillion-dollar valuation hinge on the company's orbital AI data center ambitions.