Morgan Stanley SpaceX · SPCX

Morgan Stanley Reiterates Overweight on SpaceX, $300 Price Target

Analyst: Adam Jonas 1 min read Reproduced verbatim
Rating
Overweight
Unchanged
Target
$300
Unchanged
Upside
+143%
SPCX at $124 today
Morgan Stanley and SpaceX logos

What the analyst said

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $300 price target on SpaceX (NASDAQ: SPCX).

“Most likely potential upside surprises: Plans for more than 2 GW of new (incremental) compute deployed next year (both MS and Consensus estimate – each incremental GW is a potential $10-50bn in AI ARR), new chunky neocloud deals (talks with Reflection and the DoW are reported but nothing officially announced), Grok usage trends on Cursor showing material share gains vs. other frontier models, Cursor ARR showing acceleration from the $4bn reported beginning of June (we model $7bn for end of 3Q) Most likely downside surprises: Capex projections materially above the ~$50bn that we model in 2026, commentary that suggests additional funding raises are expected before year-end, plans to prematurely end/renegotiate current neocloud deals, Starlink subscriber figures suggesting a deceleration in adoption.”

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Where the price stands

SPCX trades at $124. The 29 analysts who set a target in the last 3 months range from $75 to $800, with a median of $230. This $300 target is 30% above the median.

Since the note SPCX has moved +9% (from $114). 12-month window: day 100 of 365, closes on July 28, 2027.

Track record

This callOpen: SPCX has not reached $300 yet. This 12-month target is scored on July 7, 2027. Same target as this firm’s July 7, 2026 note, so it is scored there.

Firm track recordMorgan Stanley: 82% of its 49 targets at least a year old were reached within 12 months (#8 of 26 firms). Accuracy ranking →

Morgan Stanley on SpaceX

Morgan Stanley price targets on SpaceX

4 calls from July 7, 2026 to October 21, 2026. The target stayed at $300. The rating stayed Buy.

Morgan Stanley targetSPCX share price
  1. October 21, 2026Kept the $300 targetBuy$300
  2. October 14, 2026Kept the $300 targetBuy$300
  3. July 28, 2026 This noteKept the $300 targetBuy$300
  4. July 7, 2026Earliest call shownBuy$300
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Other analysts on SpaceX

Bank of AmericaBuy Kept rating and price target Oct 27 $275maintained Yorkville IvesBuy Kept rating and price target Oct 26 $225maintained BernsteinBuy Raised price target +8%, kept rating Oct 26 $268from $248 Bank of AmericaBuy Raised price target +17%, kept rating Oct 22 $275from $235 BarclaysBuy Raised price target +18%, kept rating Oct 22 $300from $254
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.