Analyst Recommends Buying SpaceX Stock Despite Recent Sell-Off

Another Wall Street analyst has turned bullish on SpaceX, even as the company's shares continue to slide.

A SpaceX rocket stands on the launch pad as investors assess the company's long-term growth prospects. (Photo: SpaceX)

SpaceX stock fell another 4 percent at one point this week, hitting a fresh all-time low and dropping below $140 per share, Pras Subramanian reported for Yahoo Finance.

The stock debuted at $150 in mid-June, and its $135 initial public offering (IPO) price is now within close range, Grace O'Donnell also reported for Yahoo Finance.

Bank of America Securities senior analyst Ron Epstein recently initiated coverage of SpaceX with a Buy rating and a $235 price target.

Epstein's target price is substantially above Monday's trading level and is based on a long-term discounted cash flow (DCF) model incorporating base, bullish, and bearish scenarios through 2045.

While SpaceX's leadership in commercial rocket launches remains the foundation of the investment case, Epstein also highlighted the company's long-term potential in space-based data centers, a more speculative but potentially transformative growth opportunity.