Bullish analyst calls lift SpaceX shares as TSMC discussions continue
Space Exploration Technologies shares rose on Oct. 5 after Morgan Stanley reaffirmed its positive stance and TD Cowen started coverage with a favorable rating. Morgan Stanley’s Adam Jonas retained an Overweight rating with a $300 target, while TD Cowen’s John Blackledge began coverage at Buy with a $200 target. Elon Musk also said SpaceX remained in discussions with TSMC about a possible chip-manufacturing partnership.
Why it matters
Morgan Stanley’s note argues that SpaceX’s valuation is more attractive after accounting for growth, while TD Cowen expects AI-computing leasing and Starship to support expansion. The proposed TSMC arrangement remains preliminary, so it does not yet represent a secured supply agreement or capital commitment.
Key facts
- 1Morgan Stanley analyst Adam Jonas kept an Overweight rating on SpaceX and repeated a $300 price target. benzinga.com
- 2TD Cowen analyst John Blackledge launched coverage of SpaceX with a Buy rating and a $200 price target. benzinga.com
- 3SpaceX shares were up 5.24% at $167.29 when the Oct. 5 report was published. benzinga.com
- 4Musk said SpaceX and TSMC were still discussing a potential semiconductor partnership. theglobeandmail.com
- 5TD Cowen forecasts that AI-computing leasing will account for more than half of SpaceX revenue by the first quarter of 2027. benzinga.com
- 6Starlink had 12 million subscribers, compared with 10.3 million in the prior quarter, according to the Oct. 6 report. benzinga.com
Open questions
- No terms, timeline, or binding agreement were disclosed for the possible TSMC partnership.
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.