Evercore initiates SpaceX Outperform as Starship Flight 13 nears
SpaceX is preparing Starship Flight 13 as Evercore ISI initiates coverage with an Outperform rating and a $230 price target, calling the recent selloff overdone. The test launch from Starbase, Texas, arrives as SPCX shares hover near post-IPO lows, putting space exploration back at the center of one of the market's hottest debates.
Elon Musk's rocket company will attempt the 13th test flight of its Starship rocket no earlier than Thursday, July 16, around 6:45 p.m. EDT, according to Yahoo Finance. On Tuesday, Evercore ISI joined the bullish chorus on SpaceX (NASDAQ: SPCX), initiating with Outperform and implying roughly 65% upside from the stock's $139.14 close.
Key Takeaways
- Evercore ISI initiated SpaceX coverage with an Outperform rating and a $230 price target on Tuesday.
- Starship Flight 13, the second Version 3 launch, is set for no earlier than Thursday from Starbase, Texas.
- SPCX has fallen about 38% from its June peak of $225.64 and trades near its $135 IPO price.
- Barron's reported 15 new analyst ratings with an average price target near $250, The Motley Fool noted.
- A $5,000 investment could reach $8,427 by 2028 if shares hit $250, The Motley Fool estimates.
Why is Evercore bullish on SpaceX now?
Evercore analyst Kutgun Maral called SpaceX "an extraordinary company on a real path to reshaping the future of humanity." He described it as a vertically integrated business that built a near-monopoly on orbital access, turned Starlink into a cash-generative connectivity franchise, and is now aiming that model at AI infrastructure.
Maral cautioned that "there is a great deal left to prove out," including Starship scale, Starlink broadband and mobile traction, orbital computing viability, and enterprise adoption for Grok and Cursor AI products. Thursday's Starship launch is a major part of that thesis.
What is Starship Flight 13 and why does it matter?
Flight 13 is the second launch of Starship's larger Version 3 design, which debuted less than two months ago. The rocket—the largest and most powerful ever built—will lift off from Starbase, Texas.
On the prior launch in May, the Super Heavy booster suffered heat damage during separation and failed its return when some engines did not reignite. Analysts see the upcoming test as a critical step toward proving Starship can eventually carry commercial payloads at scale.
How much could a $5,000 SpaceX investment be worth?
The Motley Fool examined 15 recent analyst ratings, citing Barron's reporting that the average price target sits near $250. At SpaceX's July 8 closing price of $148.30, a $5,000 stake would buy more than 33 shares.
If the stock reached $250 per share by January 2028—roughly 18 months away—that investment would be worth about $8,427, a 68.5% gain. One outlier forecast targets $800 over 12 to 18 months, though most Wall Street estimates cluster well below that figure.
Why is SpaceX stock falling despite analyst buy ratings?
SpaceX shares have struggled since the company's June 12 IPO, sliding nearly 7% over five days and falling more than 38% from their peak. The stock has traded between $145.20 and $225.64 since going public, leaving newer buyers with sharply different returns depending on entry price.
Barron's framed the disconnect as a stock slide against a wall of bullish initiations, with dissent limited to a handful of holdouts. Investors following Celebrity Breaking News will watch whether Starship Flight 13—and Evercore's Outperform call—can shift sentiment on one of 2026's most closely watched debuts.