SpaceX Is 'Cheap and Getting Cheaper' Morgan Stanley Says - SpaceX (NASDAQ:SPCX)
Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $300 price target for SpaceX (SPCX), arguing its stock is undervalued when adjusted for growth. He compared SpaceX's multiples to AI enablers, noting its lower EV/EBIT-to-growth ratio. Jonas believes the current price reflects most of SpaceX's space and connectivity businesses, with the AI segment valued at $32 per share. He sees potential upside from Starship Flight 15 and AI progress.
How this was made
The 30-second read
Why it matters
The fresh analyst coverage provides a new price target and valuation framework, likely prompting short‑term buying pressure.
Market read
Analyst upgrade with a $300 target could drive notable share price movement ahead of Starship Flight 15.
What to watch
Liquidity constraints, lock‑up expiries, and potential dilution from future capital raises are not fully addressed.
Background
Morgan Stanley analyst Adam Jonas issues an Overweight rating on SpaceX, emphasizing growth‑adjusted multiples and AI exposure.
Ticker impact
Morgan Stanley analyst upgrades SpaceX to Overweight with a $300 price target, citing growth-adjusted valuation and upcoming Starship Flight 15 as catalysts.
likely upward pressure as investors price in the $300 target and upcoming flight catalyst
The note provides a fresh valuation thesis and a concrete price target, which can drive buying interest ahead of the upcoming Starship launch.
Market effects
Highlights AI and space sectors as undervalued relative to growth, may spur broader interest in related stocks.
U.S. market focus on high‑growth tech and aerospace firms.
Potential ripple effect on global AI and satellite communications equities.
Counterpoint
The valuation assumes aggressive growth and successful Starship testing; delays or execution risk could undermine the thesis.
Key entities
- companySpaceX
Private aerospace company listed on NASDAQ under SPCX.
- financial_institutionMorgan Stanley
Analyst firm providing the rating and target.
