BUZZ-Zephirin initiates coverage of SpaceX with 'Buy', sets PT of $310

SpaceX
Amazon.com, Inc.

SpaceX

SPCX

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Amazon.com, Inc.

AMZN

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** Shares of rocket and satellite maker SpaceX SPCX.O up 4.6% at $201.40 premarket

** The Zephirin Group initiates on SPCX with "Buy" rating and PT of $310, implying ~61% upside to last close of $192.50

** SPCX has surged more than 42% since its Friday debut, with market value set to surpass Amazon to become the world’s fifth-largest company

** Brokearge says trading call driven by market structure rather than valuation, with rising passive ownership and strong momentum supporting upside as demand competes for limited liquidity

** Flags risks, including execution in scaling AI, connectivity and space, regulatory and funding pressures, slower monetization, rising competition and valuation sensitivity to momentum and passive flows

** Co also announces it plans to acquire software firm Anysphere for $60 billion


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