Stifel Reaffirms Buy on SpaceX, $190 Price Target

Stifel analyst Jonathan Siegmann reiterated a Buy rating and $190 price target on SpaceX (NASDAQ: SPCX).

“Summary A new investment in SPCX’s mobile business. On 10/8, SPCX agreed to acquire 14 MHz of paired 800 MHz spectrum from Grain Management. Reports put the price near $8b.

Low-band spectrum reaches inside buildings. That fills the coverage gap left by the pending ~$19.6b EchoStar deal (65 MHz).

The same week, the FCC approved 15,000 next-generation Starlink Mobile satellites. Together this represents ~$28b of committed spectrum and a constellation to use it.

SPCX is assembling its own network and moving beyond a texting add-on. Ground infrastructure is the missing piece. We see three paths: build, partner, or reinvent the architecture.

SPCX’s leverage with incumbents grows with every Starship milestone, and we remain believers in Starship’s maturation. No change to our Buy recommendation or $190 PT.”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.