Wall Street Analysts: "SpaceX (SPCX) Could Reach $900"...Betting on a 6x Stock Surge

▲ SpaceX (SPCX)/AI generated image

While Wall Street has presented an average price target of around $240 for SpaceX (SPCX), an ultra-bullish outlook suggesting the stock could soar to $900 in the long term has also emerged. The next-generation Starship rocket and the technological capabilities that could drastically reduce space access costs have become key battlegrounds determining SpaceX's corporate value.

According to Barron's on July 9 (local time), the average price target for SpaceX by Wall Street analysts is approximately $240. Based on this target price, the calculated enterprise value is about $3.2 trillion, surpassing Microsoft (MSFT), Amazon (AMZN), and Tesla (TSLA).

Citi analyst John Godyn issued a "buy" rating for SpaceX with a $200 price target, while in a long-term bullish scenario, he opened the door to $900. Godyn believes that if Starship significantly lowers space access costs and establishes itself as a scalable transportation method, SpaceX could target a massive market that existing companies would find realistically difficult to enter. Starlink, which has secured over 10 million subscribers and records high profit margins, was also cited as a growth driver.

Morgan Stanley analyst Adam Jonas set a price target of $300 but adopted an extremely wide range for his outlook. The bullish scenario is $600, and the bearish scenario is $75. Starship development achievements and the execution of AI and semiconductor businesses were presented as key variables that would widen the gap in corporate value.

Cantor Fitzgerald analyst Colin Canfield presented a larger stock price disparity based on earnings forecasts. In a bullish scenario, he calculated approximately $740 by applying a 100x P/E ratio to an estimated EPS of about $11 in 2030 and then discounting it to present value. The bearish scenario applied an EPS of about $8 in 2030 and a 20x P/E ratio, yielding approximately $100.

SpaceX is not expected to be profitable until 2027, and due to large capital expenditures, cash flow pressures could continue for several years thereafter. While dependence on external funding and technology execution risks remain, the extreme forecast difference of $75 to $900 presented by Wall Street clearly demonstrates the impact that Starship's success or failure will have on SpaceX's corporate value.

[Article Key Summary]

-Wall Street's average price target for SpaceX is approximately $240, and the corporate value based on this is about $3.2 trillion.

-Citi presented a bullish scenario suggesting that SpaceX's stock price could rise to $900 in the long term, assuming Starship achieves its technological goals.

-Morgan Stanley and Cantor Fitzgerald offered stock price scenarios of $75-$600 and $100-$740, respectively, depending on technological execution and earnings forecasts.

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