Morgan Stanley Targets $300 for SpaceX Stock

Morgan Stanley analyst Adam Jonas has issued a bullish new forecast for SpaceX, predicting the stock could climb to a record high of $300 per share. This target represents a potential rally of more than 125 percent from its recent closing price of $133. The positive outlook follows the company's first earnings report as a public company and the recent expiration of its share lock up period, which introduced fresh supply to the market.

The core thesis behind the $300 target is the rapid expansion of the company artificial intelligence business. According to the valuation framework, more than half of the projected price comes from AI operations, while the rest relies on launch services and the Starlink satellite network. SpaceX recently reported strong second quarter results, with revenue jumping 92 percent year over year to $7.8 billion and Starlink pulling in $4.2 billion from roughly 12 million subscribers.

Despite heavy capital expenditures of $18.4 billion directed mostly toward AI infrastructure during the quarter, Wall Street sentiment remains largely positive. The broader analyst consensus points to an average 12 month target of $229. Investors will be watching closely to see if management can translate heavy AI spending into steady revenue growth and meet its goal of a $100 billion annualized run rate by the end of 2026.