Mizuho Maintains Outperform on SpaceX, $200 PT
Mizuho analyst Brett Linzey reiterated an Outperform rating and $200 price target on SpaceX (NASDAQ: SPCX).
“Recent third-party pricing actions strengthen our confidence that SPCX can sustain premium compute pricing as it brings incremental capacity to market.
At a recent industry conference, management reiterated its $30-50/W framework for 2027 and indicated current pricing is near the upper end.
Management also disclosed a new hosting agreement expected to contribute roughly $1.11B per month at the high end of that range (12/1 start), which adds visibility to demand for its capacity.
We would caution that on-demand list prices do not establish realized pricing under larger negotiated contracts.
Recent contracts (listed below) and broader industry pricing trends give us greater confidence in SPCX’s ability to sustain premium compute pricing into 2027, supporting highly attractive monetization as the company brings additional capacity to market.”
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