JPMorgan Reiterates Overweight on SpaceX, $240 PT
JPMorgan analyst Seth M. Seifman reiterated an Overweight rating and $240 price target on SpaceX (NASDAQ: SPCX).
“SpaceX’s AI ambitions are coming into sharper focus & we are increasingly positive on Grok.
The company officially closed its acquisition of Cursor on 8/14, a milestone we view as an important step in building out its enterprise AI capabilities.
Cursor brings ~$4B of ARR (as of June 2026), with ~75% coming from businesses, which should help streamline SpaceX’s goto-market strategy & provide valuable data for model training.
Importantly, we have already seen the benefits of Cursor data incorporated into Grok’s supplemental training, with tangible improvements in recent model performance.”
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