Cramer says SpaceX's latest price target hike could signal something bigger
CNBC's Jim Cramer said Goldman Sachs’ latest price target hike on SpaceX is a sign that Elon Musk's ambitious vision for the company may be becoming reality.
TL;DR
- Goldman Sachs raised its price target for SpaceX from $220 to $230, implying about 37% upside.
- The analyst firm reiterated its buy rating, suggesting the previous $220 target is now more credible.
- SpaceX's valuation is supported by growth avenues like Starlink, reusable rockets, and data center ambitions.
- The company is generating revenue by renting excess computing power and reportedly seeking $40 billion to expand its operations.
- This expansion involves purchasing more Nvidia chips, potentially making SpaceX Nvidia's largest client.