SpaceX receives highest price target from major bank, citing 87% upside and dominance in space infrastructure and AI.
Morgan Stanley initiated coverage of SpaceX with an Overweight rating and a $300 price target, the most bullish call among major Wall Street banks. The target implies 87% upside from Monday’s close near $160, as SpaceX enters the Nasdaq 100 index.
Analysts highlighted SpaceX’s unique position in space infrastructure, including near-monopoly launch economics, the largest low-Earth orbit satellite network, and a rapidly scaling AI infrastructure business. The firm’s Starship rocket is expected to become operational by Q4 2024, with launch costs projected to drop to $500 per kilogram by 2030.
The note also emphasized Starlink’s potential as a default connectivity layer and SpaceX’s cost advantages in data center economics, estimating half the industry’s cost per watt.