Analysts see major SpaceX milestones ahead, while EchoStar gets a boost from JPMorgan and Coca-Cola receives a higher price target from Barclays.
- SpaceX rose over 2% in premarket trading. Evercore ISI raised its price target and maintained an ‘Outperform’ rating.
- EchoStar rose nearly 3% in premarket trading. JPMorgan upgraded the stock to ‘Overweight’ from ‘Underweight.’
- Coca-Cola (KO) rose 0.7% in premarket trading. Barclays raised its price target and maintained an Overweight rating.
SpaceX (SPCX), EchoStar (ECHO) and Coca-Cola (KO) shares moved higher in premarket trading on Friday as analysts updated their price targets and outlooks for the companies. Evercore ISI raised its target on SpaceX ahead of its third-quarter results, JPMorgan upgraded EchoStar, and Barclays raised its target on Coca-Cola.
SPCX Target Raised To $275
SPCX shares were up about 2.35% in premarket trading at the time of writing after Evercore ISI raised the firm’s price target for Elon Musk’s company to $275 from $230 and maintained an ‘Outperform’ rating.
Evercore expects SpaceX’s third-quarter results to draw attention to developments that could shape estimates and investor sentiment through the end of the year and into 2027.
The firm said major milestones may be closer than some investors expect.
ECHO Gets JPMorgan Upgrade
ECHO stock gained nearly 2.7% in premarket trading after JPMorgan upgraded the stock to ‘Overweight’ from ‘Underweight’ and set a $144 price target.
“EchoStar shares trade at a 40% discount to JPMorgan’s estimated net asset value, which is unwarranted and creates a ‘compelling near-term opportunity,,” the firm told investors in a research note, according to TheFly.
It also said ECHO’s $43-billion spectrum sale to AT&T and SpaceX has reduced balance-sheet risk and created further opportunities to unlock value. Potential catalysts include “upside” in the value of SpaceX shares, “additional spectrum monetization” and the possibility of share repurchases beginning sooner than expected.
KO Price Target Raised By Barclays
KO shares rose 0.8% in premarket trading after Barclays raised its price target to $98 from $93 and maintained an ‘Overweight’ rating. The adjustment came as part of the firm’s third-quarter earnings preview for consumer staples. Barclays said relatively few companies in the sector offer both a dependable defensive outlook and an attractive valuation, leaving investors with a narrow range of options.
SPCX, ECHO, KO Stocks: Stocktwits Retail Sentiment
At the time of writing, retail sentiment toward SpaceX was ‘bearish,’ unchanged in the past 24 hours, while message volume was ‘normal.’ SPCX shares have lost about 0.9% since the company went public in June.
EchoStar also had ‘bearish’ sentiment, while message volume was ‘low.’ ECHO shares have declined over 16% since the beginning of this year.
For Coca-Cola, sentiment was ‘bullish’ and unchanged in the past 24 hours, while message volume was ‘high.’ KO stock has gained over 31% year-to-date.
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