11:46 AM EDT, 08/03/2026 (MT Newswires) -- Space Exploration Technologies ( SPCX ) or SpaceX's (SPCX) current valuation appears attractive after shares fell about 52% from their post-IPO peak, although upcoming share lockup expirations and broader market sentiment could remain near-term headwinds, RBC Capital Markets said in a note Sunday.

The investment firm said it expects Q2 revenue growth of 66% and an adjusted earnings before interest, taxes, depreciation, and amortization margin of about 30% when SpaceX reports its first quarterly results as a public company after the market closes on Tuesday.

Investor attention is expected to center on SpaceX's 2026 outlook, V13 Starship development, capacity expansion, potential consumer wireless operation, and plans for higher-margin software and artificial intelligence products, according to the note.

The firm said recent Starship progress and government contract wins support the company's fundamentals, while the current share price undervalues the maturity and long-term prospects of its launch and Starlink businesses.

RBC Capital Markets maintained an outperform rating on SpaceX, with a price target of $225.

Shares of SpaceX were up 2.7% in Monday trading.

Price: 111.33, Change: +2.96, Percent Change: +2.73