Goldman Sachs Initiates Coverage of SpaceX with Buy Rating, $205 Price Target on July 7

According to Chao Xiang Research, Goldman Sachs initiated coverage of SpaceX (SPCX) on July 7 with a Buy rating and 12-month price target of $205. The investment bank identified three core business segments: launches controlling over 80% of global payload capacity to orbit, Starlink broadband projected to reach 96.2 million users by 2030, and artificial intelligence compute capacity expanding from 2 gigawatts to 36 gigawatts, including 26 gigawatts in orbital compute. Goldman Sachs cited vertical integration as the primary competitive advantage, with Falcon 9 launch costs more than 85% below industry average.
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