SpaceX (SPCX.US) enters Bank of America's "US 1" preferred stock list as Wall Street renews its confidence in Musk's long-term space vision.

Zhitong Finance APP has learned that Bank of America Securities released a research report on Tuesday, adding SpaceX (SPCX.US) to its “US 1” top investment selection list, signaling increased confidence in the outlook for the company led by Elon Musk.

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

The “US 1” list is designed to select the most attractive investment targets from the pool of stocks rated “Buy” by the bank, aiming for outstanding long-term investment returns.

SpaceX’s business covers areas such as satellite communications, rocket launches, and artificial intelligence (AI), and it is working to capitalize on opportunities arising from the continued growth in connectivity, space infrastructure, and computing power demand, thus attracting investor attention.

Its inclusion in this list may provide another endorsement for bullish investors, especially those looking to tap into its multiple growth areas. However, the brief announcement did not specify which financial or operational factors prompted Bank of America to add the stock to the list.

Bank of America also added Fox Corporation (FOXA.US) to the “US 1” list and removed RenaissanceRe Holdings Ltd. (RNR.US) from the list. The bank maintained its “Buy” rating on RenaissanceRe, indicating that its removal from the list does not constitute a downgrade.

These adjustments reflect changes in the bank’s preference among “Buy”-rated stocks, rather than changes in the fundamental investment ratings themselves.