Oppenheimer starts SpaceX with outperform and $190 target before Nasdaq debut

Ahead of SpaceX’s expected Nasdaq IPO, Oppenheimer highlighted Starlink’s disruptive potential while reports pointed to a roughly $175 billion valuation and June 11 gains in space-focused ETFs.

47d ago

Fact Check

Numerous independent sources corroborate the claim. The cryptobriefing article and Phemex confirm Oppenheimer initiated SpaceX at Outperform with a $190 target on June 11, 2026 ahead of the Nasdaq debut (ticker SPCX). A Bloomberg-sourced X post (@SpacBobby) names analyst Timothy Horan, the $190 target, the $135 IPO price, and the Friday trading debut. Walter Bloomberg (@DeItaone) posted the same headline, and Reuters independently confirms Oppenheimer's SpaceX/Starlink communications-disruption thesis and the June 12 Nasdaq debut. All specific figures and the Starlink disruption framing in the claim align with the evidence.

Summary

Oppenheimer initiated coverage of SpaceX with an outperform rating and a $190 price target ahead of the company’s expected Nasdaq debut, saying Starlink could disrupt the U.S. communications market. Separately, BlockBeats reported on June 11 that SpaceX is nearing an IPO at an expected valuation close to $175 billion, or about 52 times sales. Investor interest also appeared in trading: Vanda Research data showed retail investors recorded three straight days of net selling in semiconductor and AI-linked stocks, while Bitget data showed space-related ETFs rose on June 11, including Tema Space Innovators ETF (NASA) up 7.81%, Roundhill Space & Technology ETF (MARS) up 6.26%, and PROCURE ETF TRUST II SPACE ETF (UFO) up 4.62%.

Terms & Concepts

IPO: Initial public offering of shares.
Starlink: SpaceX’s satellite-based broadband service.
ETF: Exchange-traded fund that tracks a basket of assets or securities.