SpaceX has received its first "sell" rating: CFRA expects the stock to fall nearly 15%

Elon Musk's aerospace company SpaceX, whose securities began trading on June 12 on the Nasdaq exchange, received the first negative rating from Wall Street analysts - "sell". Experts of brokerage firm CFRA set the target price for the company's securities at $115 per piece, Barron's found in rating aggregators. With the report of analysts the edition has not familiarized yet. Target CFRA on shares of SpaceX assumes their fall by 14.8% relative to the offering price ($139 per piece).

In total, SpaceX is already being tracked by four analysts, Barron's notes. According to FactSet, their average target price on the company's shares is about $189 per paper, which suggests a potential upside of 40% from the IPO price.

Wall Street, Barron's explains, is just beginning its analytical coverage of Musk's aerospace stocks - the number of ratings on them is likely to exceed 40 in the coming months.

On the eve of SpaceX offering, analysts from Oppenheimer and New Street Research have already started covering the company's securities. The first assigned SpaceX shares a "buy" rating and a target price of $190 apiece; the second - set a target for them at $165, which implies a growth potential of about 22% of the offering price.

In trading on June 12, according to Yahoo Finance, SpaceX shares are already up 28.89% to $174 apiece. The IPO of SpaceX, which became a record in the history of the stock market, made Musk the world's first trillionaire. During the listing, the company raised $75 billion and its total valuation reached $1.77 trillion.

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