Morningstar Values SpaceX at $780 Billion, Warns of Overvaluation Ahead of IPO
By
Suryansh Sharma
Hot, fresh, and worth queueing round the block for.
Summary
Morningstar has initiated research coverage on SpaceX, valuing the company at $780 billion with a narrow economic moat rating. Despite a private market valuation of around $1.5 trillion, the analysis suggests SpaceX is significantly overvalued. The firm's core launch and satellite communications businesses drive its competitive advantages through cost efficiencies. With an upcoming IPO expected to offer about 3% of shares to public investors, the analysis indicates that investors may find better buying opportunities at more attractive price levels after the IPO.
Key quotes
· 3 pulledWe value SpaceX at $780 billion with a Morningstar Economic Moat Rating of narrow.
The firm's core launch and satellite communications businesses drive its moat rating due to the prodigious cost advantages achieved through continued research.
We think the company has been significantly overvalued and investors will have opportunities to buy the stock at more attractive levels after the IPO.
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