SpaceX (SPCX) got a boost on Tuesday as TD Cowen initiated coverage of the rocket and satellite company with a bullish stance, but not necessarily for its "space" based activities. The investment bank slapped a Buy rating on SpaceX with a $200 price target, betting that renting out AI data center capacity to AI companies like Anthropic will quickly become the company's biggest business. SpaceX shares rose over 2% on Tuesday. The $200 target implies around 35% upside from where shares stand, which is around $149 in late trading. (SPCX ) Go deeper with AlphaSpace 149.12 +3.65 (+2.51%) As of 3:39:05 PM EDT. Market Open. TD analyst John Blackledge expects AI compute leasing to generate $14.
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