B · Normal
[Citi: Reiterate SpaceX “Buy” rating and raise target price to $240] On October 21, Citi released a research report stating that SpaceX’s third-quarter performance was better than expected, and key indicators such as revenue, gross profit, and adjusted EBITDA of its three major businesses all exceeded the bank’s forecasts. Citigroup raised its target price on SpaceX from $200 to $240 and reiterated a "buy" rating. Management's revenue guidance for the first quarter of next year is between US$33 billion and US$37 billion, which is more than US$10 billion higher than market expectations of approximately US$23 billion. The bank significantly raised the company's earnings per share forecast for next year, from US$2.14 to US$3.25.
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