Stock Enters a New Phase After Public Debut
After roughly three weeks on public markets, SpaceX stock, trading under the ticker SPCX, remains close to the level where it began trading. The next major catalyst is its entrance into the Nasdaq 100, a move expected to draw buying from large institutional funds that track the index.
Wall Street Turns Positive on SpaceX
As SpaceX joins the Nasdaq 100, several major Wall Street banks have launched coverage of the company. Most analysts are taking a bullish view, citing the company’s position in launch services, satellite connectivity, artificial intelligence infrastructure and the broader orbital economy.
JPMorgan Sees Upside Beyond $2 Trillion
JPMorgan Chase initiated coverage with an Overweight rating and a price target of $225 per share. The bank noted that SpaceX already holds a market capitalization above $2 trillion after its IPO, but still sees meaningful upside as the company builds what analysts described as the next major frontier.
Morgan Stanley Sets a $300 Target
Morgan Stanley also began coverage with an Overweight rating and the highest listed price target, at $300 per share. The firm highlighted SpaceX’s launch economics, low Earth orbit satellite network and expanding AI infrastructure business as key pillars of the investment case.
Goldman Sachs Points to Trillion-Dollar Markets
Goldman Sachs started coverage with a Buy rating and a $205 price target. The firm sees SpaceX as well positioned across launch and reusability, satellite broadband, mobile connectivity and AI-related compute, with each market offering potential multi-trillion-dollar opportunities over a five-year-plus horizon.
Bernstein Focuses on Execution
Bernstein initiated coverage with an Outperform rating and a $239 target. Analysts said the central question is less about timing and more about whether SpaceX can achieve its long-term goals. The firm expects revenue from AI data centers to develop more slowly than company projections, but still believes SpaceX can reach that opportunity even if delayed by one or two years.
RBC Highlights Scale and Resources
RBC Capital Markets began coverage with an Outperform rating and a $225 price target. The firm acknowledged timing risks around SpaceX’s space ambitions, but pointed to its history of disruption, an estimated 2035 total addressable market of nearly $2 trillion and unusually strong financial resources.
Macquarie Sees Leadership Across Segments
Macquarie initiated coverage with an Outperform rating and a $250 price target. The bank cited vertical integration, scale, first-mover advantage, strong unit economics, experienced management, deep technical expertise and recent AI wins with Anthropic, Google and Reflection AI.
UBS Frames SpaceX as a Long-Term Platform
UBS started coverage with a Buy rating and a $210 target. The firm described SpaceX as an “unparalleled set of assets” for long-term, risk-tolerant investors and identified Starship as the core technology that could unlock opportunities across launch, communications and AI compute.
Deutsche Bank Points to SpaceX’s Moat
Deutsche Bank launched coverage with a Buy rating and a $255 price target. Analysts argued that SpaceX has built foundational infrastructure across transportation, connectivity and AI, and said they struggle to identify competitors capable of challenging the company’s moat.
Mizuho Calls It Orbital Infrastructure
Mizuho initiated coverage with an Outperform rating and a $200 target. The firm said SpaceX is “not a rocket company,” but rather the infrastructure layer of the orbital economy, with three distinct businesses sharing the same launch platform. It also noted that AI and orbital data center upside remains a “show-me” story.
Bank of America Sees a Space Economy Leader
Bank of America began coverage with a Buy rating and a $235 price target. The firm said SpaceX has evolved from a launch company into a foundational enabler of the space economy, supported by strong advantages in reusable launch and space-based applications.
Price Targets Show Broad Optimism
The new analyst targets range from $200 at Mizuho to $300 at Morgan Stanley. Across the group, the common view is that SpaceX’s value no longer rests only on rockets, but on a wider infrastructure stack spanning launch, satellites, connectivity, AI compute and future orbital applications.
