Morgan Stanley reiterates Overweight on SpaceX, lifts $300 target
Morgan Stanley said SpaceX looks cheap on a growth-adjusted basis and kept an Overweight rating with a $300 price target. The firm pointed to upcoming Starship flights, Q3 earnings, Grok releases and more neocloud deals as potential catalysts.
Morgan Stanley reiterated Overweight on SpaceX and kept its $300 price target, saying the stock looks cheap once its growth profile is taken into account. Analyst Adam Jonas said SpaceX trades about 40% below mega-cap AI peers on a growth-adjusted basis. Potential catalysts include upcoming Starship flights, Q3 earnings, Grok releases and additional neocloud deals, while a successful Starship catch could be the biggest catalyst since the IPO.