CFRA Starts Coverage on SpaceX With Rare Sell Call, Citing Execution and Cash Burn Risks
CFRA analyst Keith Snyder began coverage of SpaceX with a Sell rating and a $115 price target, arguing the company faces concentrated execution risk tied to Starship, substantial capital requirements across multiple business lines, and weakening Starlink average revenue per user as the service expands into lower-priced markets. The initiation comes…