Is Space Exploration (SPCX) the Best Space Technology Stock To Buy Now?

Space Exploration Technologies Corp. (NASDAQ:SPCX) is one of the Best Space Technology Stocks to Buy Now. Wall Street has a positive opinion about Space Exploration Technologies Corp. (NASDAQ:SPCX). Recently, on July 7, Deutsche Bank initiated coverage of the stock with a Buy rating and a $225 price target. On the same day, Cantor Fitzgerald also initiated coverage of the stock with a $246 price target.

​Deutsche Bank noted that the bullish rating is based on the fact that SpaceX has done what the government couldn’t do for decades, that is, they have made large rockets that are reliable, reusable, and becoming affordable. The firm also highlighted the company’s Starlink as an agile and resilient network that is serving consumers, enterprises, and governments. The firm sees a clear SpaceX advantage in AI. It points to AI infrastructure deployment on the ground and eventually in orbit.

Source: Pexels

​Similarly, Cantor Fitzgerald sees Space Exploration Technologies Corp. (NASDAQ:SPCX) as a uniquely positioned planetary infrastructure company. The firm highlighted the company’s vertically integrated capabilities across launch, satellite connectivity, AI compute, and platform distribution. Moreover, Cantor also noted that this business model differs from traditional tech companies. It may compound value in ways that conventional valuation frameworks don’t fully capture.

Space Exploration Technologies Corp. primarily provides satellite-based broadband services. However, its businesses also span rocket launch services, satellite internet and connectivity, artificial intelligence (AI), and cloud computing.

READ NEXT:  10 Good Stocks to Invest in Now and 10 Most Undervalued US Stocks According to Hedge Funds. 

Disclosure: None. Follow Insider Monkey on Google News.