JPMorgan Lifts SpaceX Price Target to $500 From $240, Maintains Overweight Rating
JOON HYOUNG LEE
Summary
- JPMorgan raised its price target for SpaceX to $500 from $240 and maintained its overweight rating.
- JPMorgan projects SpaceX’s revenue will reach $254 billion next year.
- It said a merger review involving SpaceX and Tesla carries strategic significance, though whether a deal is completed remains uncertain.
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JPMorgan more than doubled its price target for Elon Musk-led space company SpaceX.
BlockBeats reported on October 21 that JPMorgan raised its SpaceX price target to $500 from $240. The bank maintained its overweight rating.
JPMorgan projects SpaceX revenue will reach $254 billion next year. It also expects the company’s AI computing capacity to expand to 10 gigawatts by the end of next year, from 1.7 gigawatts as of the end of last month.
The bank also said a review of a potential merger between SpaceX and Tesla carries strategic significance. Still, JPMorgan said it remains uncertain whether such a merger will ultimately take place.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul