SpaceX CEO Elon Musk said that the space company’s next Starship test flight will happen later than originally planned. Instead of April, the launch is now expected in early to mid-May, which is roughly four to six weeks away, based on Musk’s update on X. This change comes after many had expected that the launch would occur in April. The delay is largely due to major upgrades to the new V3 Starship.
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Trade TSLA with leverageIndeed, the company has been working on improving reliability and making the rocket better suited for future missions, including NASA’s Artemis program to return humans to the moon. Importantly, Starship itself is a next-generation rocket that is designed to be fully reusable and capable of carrying much larger payloads than SpaceX’s current Falcon rockets. Because of these improvements, development has taken longer than initially expected.
Nevertheless, the upcoming test will be closely watched, especially since SpaceX has not launched Starship since its 11th test flight back in October. Meanwhile, the company is also moving forward with plans for a potential IPO, which could become one of the largest ever. More specifically, reports suggest that SpaceX is now targeting a $2 trillion valuation, up from the previously expected $1.75 trillion.
What Is the Prediction for TSLA Stock?
When it comes to Elon Musk’s companies, most of them are privately held. However, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 11 Holds, and eight Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $394.36 per share implies 9.4% upside potential.
