Wedbush Initiates SpaceX at Outperform, $190 PT
Wedbush analyst Dan Ives initiates coverage on SpaceX (NASDAQ: SPCX) with an Outperform rating and a price target of $190.00.
“We are initiating coverage on SpaceX with an OUTPERFORM rating and a $190 price target with SpaceX well-positioned to become a major hyperscaler with its vertically integrated platform across connectivity, launch, and AI infrastructure.
We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets with Starlink driving success with connectivity, Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.
Starlink remains the profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th, 2026, with ARPU of ~$66 across its enterprise and consumer fleets.
We believe that Starlink is still in the early innings of penetrating the global telecom and broadband market, where SpaceX holds less than 1% share, while building out its direct-to-device cellular services to capitalize on rising consumer demand.”
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