No qualifying author-owned investment thesis was confirmed in this post.
Third-party analyst coverage relayed without the author's own investment view; SpaceX is also not a listed equity.
Score21
Comments8
Upvote %78%
▶ Full Post Text
HSBC built its valuation as a sum of the parts, adding up what it believes SpaceX's businesses are worth. Then it did something unusual. It applied a 2x premium to account for CEO Elon Musk's track record of commercializing disruptive technologies. In other words, the bank built a 2x innovation premium into its sum-of-the-parts math, on the theory that Musk has repeatedly built industries where none existed.
Even with that premium, the answer came back at $115, along with a conclusion that the price already reflects much of the company's long-term growth potential -- including continued expansion of Starlink, rising launch activity, and the development of its artificial intelligence initiatives. The bank did sketch a friendlier picture. Its most optimistic scenario, which assumes the Starship rocket becomes commercially viable starting in 2027 and launch capacity doubles, values the stock at $293 per share. But that's the ceiling case, not the expectation.
https://finance.yahoo.com/markets/stocks/articles/hsbc-just-started-covering-spacex-232800998.html