Morgan Stanley reiterated an Overweight rating and a $300 price target, noting that SpaceX trades roughly 40% below mega cap AI peers when growth is factored in. Jonas indicates significant upside in compute services, where recent short term contracts are closer to $40 per watt compared to the $17 consensus across 4.1 GW of capacity; an increase of $10 per watt could add about $41B in revenue. Other upcoming catalysts for the stock include Starship Flight 15, Q3 earnings, and new Grok releases.
Tuesday, October 20, 2026
Story
Morgan Stanley Reaffirms $300 SpaceX Target as Shares Reach June High
US Markets15 days ago
Analyst Adam Jonas of Morgan Stanley describes SpaceX as "cheap and getting cheaper" and identifies a unique opportunity for investors to enter the company. Shares of the company rose 7.6% on Monday to approximately $171.09, the highest closing price since June, following confirmation from Elon Musk that SpaceX is in early stage talks with TSMC. These discussions involve "Terafab," a Texas based chip venture tied to Tesla and xAI that could eventually invest $119B to manufacture chips for AI infrastructure and robotics.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.