SpaceX hit with sell rating by CFRA shortly after IPO

SpaceX got hit with a sell rating from CFRA on Friday, just minutes after its debut on the Nasdaq . The financial research company also gave SpaceX a 12-month price target of $115, significantly below its offering price of $135 per share and its current trading level of about $174 as of 1:19 p.m. ET. CFRA said SpaceX has "elevated valuation expectations." The market capitalization of the company was $1.77 trillion at its initial offering price, but is currently higher due to its share price …