Wall Street Banks See Further Upside in SpaceX, With Targets Up to $300

Wall Street banks that helped lead SpaceX's initial public offering have published their first research reports, offering uniformly bullish views on the stock.

Goldman Sachs, Morgan Stanley and UBS issued their recommendations after the lockup period expired, the Financial Times reported on July 7. SpaceX shares climbed from their $135 IPO price last month to as high as $225, but have recently traded around $151.

Morgan Stanley initiated coverage with an Overweight rating and a $300 price target. Deutsche Bank started with a Buy rating and a $255 target, writing that SpaceX is changing the course of history to make humanity a multiplanetary species.

Citigroup set a year-end target of $200, but said the stock could rise above $900 over the longer term if Starship development advances successfully. The bank said commercializing Starship would create core infrastructure for the space economy and allow SpaceX to seize a new market worth trillions of dollars.

UBS named reusable rockets and Starlink as SpaceX's biggest strengths and set a $210 price target. It also said the company's AI competitiveness could strengthen through the chatbot Grok and AI coding startup Cursor. Bank of America set a $235 target and said SpaceX's future valuation should reflect the "option value" tied to the growth potential of the space industry.

The brokerages also pointed to risks. Morgan Stanley gave a fair-value range of $75 to $600 depending on business execution, while Goldman Sachs estimated SpaceX would need about $270 billion in additional funding to carry out its business plans from 2026 to 2030.

JPMorgan set a $225 price target and called Musk's leadership a core competitive advantage, saying "there is only one Elon." SpaceX was also recently added early to the Nasdaq-100 Index, raising expectations for additional inflows from passive funds that track the benchmark.