Wall Street analysts have broken their silence on SpaceX following the end of a mandatory quiet period tied to the company’s $86 billion initial public offering.
The quiet period lifted this week for analysts at the banks that underwrote SpaceX’s landmark IPO, which was led by Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase, with 18 additional banks participating.
Morgan Stanley analysts, including Adam Jonas, published a note on July 7 setting a price target of $300 per share, placing the firm among the most bullish on Wall Street.
That target implies an 87% gain from the stock’s Monday closing price of $160.42, signaling strong conviction from one of the IPO’s lead underwriters.
In their note, Morgan Stanley analysts wrote that “SpaceX can convert energy into intelligence at scale with optionality to monetize through a range of consumer and enterprise solutions for the next era of AI… the final frontier.”
Morgan Stanley laid out a wide range of outcomes, with a bear case of $75 per share and a bull case reaching $600 per share.
The firm projected SpaceX revenue could hit $319 billion by 2030 and an eye-popping $3.3 trillion by 2040 in its most optimistic scenario.
Only seven Wall Street analysts currently cover SpaceX stock, and their predictions vary dramatically, reflecting deep uncertainty about how to value the company.
The average 12-month price target across those analysts sits at roughly $222, implying approximately 30% upside, while the lowest estimate comes in around $115 per share.
The highest price target on record stands at approximately $400, which would require SpaceX shares to surge more than 130% from current levels.
Wedbush analyst Dan Ives and his team described SpaceX as one of the “most differentiated assets within the tech market” with a “strong footprint” across connectivity, space, and AI infrastructure.
Not everyone shares that enthusiasm, however, as Morningstar released a report just before the IPO concluding that SpaceX is worth just $63 per share, nearly two-thirds below where the stock currently trades.
The divergence in analyst opinion reflects broader questions about SpaceX’s trajectory as it transitions from a private rocket company into a publicly traded tech and infrastructure giant.
