SpaceX (SPCX) Stock Jumps 8% After Earnings as JPMorgan Sees $500

TLDR SpaceX (SPCX) stock closed at $159.31 on Wednesday, up 8%, after its second earnings report as a public company. Q3 revenue rose 161% to $14.58 billion, and EPS of $0.35 beat the $0.10 estimate. JPMorgan more than doubled its price target to $500 from $240, and Barclays raised its target to $300. Capital spending is the key risk, with $35 billion to $40 billion expected in Q4. The boards of SpaceX and Tesla (TSLA) have formed special committees to explore a merger. SpaceX (SPCX) stock closed at $159.31 on Wednesday, up 8%. The move came a day after the company posted its second earnings report as a public company. Space Exploration Technologies Corp., SPCX JPMorgan led the analyst response.

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