UBS Reiterates Buy on SpaceX, $210 PT

UBS analyst John Hodulik reiterated a Buy rating and $210 price target on SpaceX (SPCX) on August 5, 2026.

“In its inaugural earnings report, SpaceX reported stronger results across the board, led by outperformance in AI.

Total revenues increased 92% y/y to $7.8B (UBSe $7.1B, Street $6.8B), while EBITDA was up 192% y/y to $3.5B (UBSe 2.2B, Street $2.0B), with AI cloud service deals driving the large improvement.

Capex of $18.4B drove total cash burn to -$16B (UBSe -$15B).

Following the success of Starship Flight 13, management suggested it will attempt to catch Ship 41 on the next test flight, tentatively scheduled for the end of August.”

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