NEWS: Citi sees SpaceX as one of the most powerful long-term investment opportunities in the market.
Citi initiated coverage of SpaceX with a Buy rating and it sees SpaceX as far more than a rocket company, a vertically integrated platform spanning space access, Starlink's global connectivity network and AI infrastructure. It praised SpaceX's reusable launch leadership, integration with SpaceX and Grok, and its ability to lower costs while increasing output at a scale competitors may struggle to match.