Needham Increases SpaceX Price Target to $250
Needham analyst Ryan Koontz raised the price target on SpaceX (NASDAQ: SPCX) to $250 (from $200) while maintaining a Buy rating.
“On July 8th, SPCX released Grok 4.5, the company’s first AI model built specifically for coding and agentic work, trained on Cursor developer data.
The model has received strong reviews on 3rd party AI benchmarks and, while not expected to quite leading models from Anthropic or OpenAI, puts SpaceXAI back on track after Elon Musk said in March the company had to completely rebuild its AI program.
SPCX also announced its Starship flight 13 is scheduled to take flight as early as July 16, delivering a set of 20 full size Starlink V3 test units to orbit and advancing Ship and Booster re-usability.
We see AI model performance and Starship success to orbit as key unlocks for the company’s TAM, and raise our price target to $250 on increased confidence in execution.”
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