Susquehanna International Group initiated coverage on SpaceX (SPCX) for the first time, assigning a 'Neutral' rating alongside a target price of $170. The investment bank highlighted strong growth prospects but cautioned that the company’s current valuation remains elevated. Analysts project revenue expansion to continue rapidly through 2030, fueled primarily by launch services, Starlink, and emerging AI-related applications.

Despite the optimistic long-term outlook, Susquehanna advised investors to await a more favorable entry point. The firm identified specific headwinds, including potential delays in SpaceX Starship development, intensifying competition within the Starlink market, and uncertainty surrounding the monetization of AI-driven revenue streams.