SpaceX (SPCX.US) enters the Bank of America's “US 1” preferred stock pool, and Wall Street votes again on Musk's long-term growth story of space map

The Zhitong Finance App learned that Bank of America Securities released a research report on Tuesday, adding SpaceX (SPCX.US) to its “US 1” preferred investment target list, sending a signal of growing confidence in the future of the company led by Elon Musk.

This adjustment was announced in a research report released on October 27, making SpaceX one of the few US listed stocks favored by Bank of America fundamental stock research analysts.

According to information, the “US 1” list aims to select the most attractive investment targets from the bank's “buy” stock pool, with the goal of achieving excellent long-term investment returns.

SpaceX's business covers fields such as satellite communications, rocket launches, and artificial intelligence (AI). It is striving to seize the opportunities brought by continued growth in connectivity, space infrastructure, and computing power demand, so it has attracted investors' attention.

Being selected for the list this time may provide another endorsement for bullish investors, especially those looking to set up multiple growth businesses. However, the brief announcement did not explain what financial or operating factors prompted Bank of America to include the stock in the list.

Bank of America also added FOXA.US (FOXA.US) to the “US 1” list and removed RenaissanceRE Holdings Ltd. (RNR.US) from the list. The bank maintained a “buy” rating for RenaissanceRe, indicating that this removal from the list did not constitute a rating downgrade.

The above adjustments reflect a change in the bank's preference for “buying” rated stocks rather than a change in its underlying investment rating.