SpaceX Stock Down 40% From Peak; UBS Sees 54% Upside Ahead of Starship Flight 13

According to UBS, SpaceX (SPCX) stock has fallen nearly 40% from its June peak to $133.43, but the brokerage maintains a 'Buy' rating with a $210 price target, implying 54% upside. The bullish outlook precedes the company's Starship Flight 13 launch scheduled for July 16.

UBS said the mission would test critical capabilities including Starlink V3 satellite deployment, booster and in-space Raptor engine relights, and heat shield performance. A successful flight could validate key technologies required for SpaceX's planned launch ramp and serve as a positive catalyst for the stock. Broader Wall Street sentiment aligns with UBS: 27 of 32 analysts covering SPCX rate it 'Buy' or 'Strong Buy,' with an average 12-month price target of $240.