SPCX Stock Slides After ‘Leading Competitor’ China’s Reusable Rocket Launch – So, Why Is Bernstein Still Bullish?
Bernstein maintained an ‘Outperform’ rating and a $239 price target, saying SpaceX still leads the reusable rocket market by a wide margin. The firm noted that China has yet to demonstrate booster reuse, while SpaceX has routinely reflown Falcon 9 boosters for years. Wall Street’s average price target still implies more than 66% upside, although…