Phillip Securities has given SpaceX (SPCX) a Sell rating with a $75 price target, citing concerns over the company’s valuation and the durability of its revenue growth. SpaceX shares recently rebounded from a low near $105, gaining more than 35%. However, another major share unlock is scheduled for August 20, when roughly 320 million shares become eligible for trading, potentially increasing selling pressure. Phillip Securities said strong revenue and Starlink growth may not be enough to justify SpaceX’s current valuation, particularly as the company continues to invest heavily in AI and infrastructure.
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