After about three weeks on the public markets, SpaceX’s (SPCX) share price fell to $149 per share, below the level at which it was trading. But now large institutional funds are about to start buying shares, and Wall Street is preparing bullish forecasts.
When SpaceX entered the Nasdaq 100 Index (^NDX), Wall Street’s biggest banks began covering the company with near-unanimous bullish views on the “final frontier.” Here are some of their calls:
JP Morgan Chase
JPMorgan Chase initiated coverage with an “outperform” rating and a price target of $225 per share.
“SpaceX’s ambitions—and potential impact on humanity—are greater than any other company we’ve ever seen,” the analysts wrote. “While SpaceX has already reached a $2 trillion market capitalization following its IPO, we believe significant growth potential remains as the company literally builds its next frontier.”
Morgan Stanley
Morgan Stanley initiated coverage with an Outperform rating and a $300 per share price target.
“SpaceX combines a near-monopoly startup economy, the world’s largest satellite network in Earth orbit, and a fast-growing artificial intelligence infrastructure business,” the analysts wrote. “We view the company as one of the few platforms that can combine on-orbit real estate, global communications and computing power into one infrastructure stack.”
Goldman Sachs
Goldman Sachs initiated coverage with a Buy rating and a $205 per share price target.
“We see the company also well positioned to scale its differentiated strengths in space (launch and reusability), communications (broadband and mobile satellite constellation), and artificial intelligence (computing, X, etc.) – with each of these markets potentially becoming multiple trillion-dollar opportunities over a 5-year period,” the analysts wrote.
Bernstein
Bernstein initiated coverage with an “outperform” rating and a $239 per share price target.
“In our view, SpaceX’s investment case is whether it can achieve its goals, not ‘when,'” the analysts wrote. “Our timeline for AI data center revenue growth is longer than the trajectory described by the company. But we expect SpaceX to get there, even if it’s a year or two late.”
RBC Capital Markets
RBC Capital Markets initiated coverage with an “outperform” rating and a price target of $225 per share.
“We can appreciate the timing risk associated with the company’s space aspirations, but we believe sentiment will benefit from a proven track record of disruption and innovation, a TAM of nearly $2 trillion for 2035E and virtually unrivaled financial resources,” the analysts wrote.
People watch the SpaceX IPO ceremony outside the Nasdaq building in Times Square in New York, USA, June 12, 2026. (Liu Yan’an/Xinhua via Getty Images) · Xinhua News Agency via Getty Images
Macquarie
Macquarie initiated coverage with an “outperform” rating and a target price of $250 per share.
“Vertical integration, dominant position, first mover advantage in space, scale, unit economics, long management track record, deep technical expertise, and recent wins in AI (e.g., Anthropic, Google, and Reflection AI) position SPCX to lead in all of its segments and move toward a lunar economy,” the analysts wrote.
UBS
UBS initiated coverage with a Buy rating and a target price of $210 per share.
“We view SpaceX as an unparalleled portfolio of assets with a multifaceted return profile and multiple growth drivers for long-term, risk-tolerant investors,” the analysts wrote. “Starship, the world’s most advanced reusable heavy rocket, is a foundational technology that unlocks capabilities in launch, communications and artificial intelligence computing, creating a total addressable market approaching $30 trillion.”
Deutsche Bank
Deutsche Bank initiated coverage with a Buy rating and a target price of $255 per share.
“SpaceX, in our view, represents the pinnacle of civilizational ambition often expressed in steel and fire, bending the arc of history to make humans multi-planetary by creating the basic infrastructure for transportation, communications and artificial intelligence,” the analysts wrote. “In short, in almost every category we are struggling to find competitors that can challenge SpaceX.”
Mizuho
Mizuho initiated coverage with an “outperform” rating and a $200 per share price target.
“SpaceX is not a rocket company. This is the infrastructure level of the orbital economy – three structurally different enterprises using the same launch platform and independent of each other,” analysts write. “We recognize that much of the AI and orbital data center growth potential remains a ‘show me’ story and that the stock is trading at a model premium, but we believe the built-in optionality across all three segments is undervalued relative to the largest quantitative TAM in the market.”
Bank of America
Bank of America initiated coverage with a Buy rating and a $235 per share price target.
“As a result, SpaceX has transformed from a launch company to a fundamental driver of the space economy and a leading provider of space applications,” the analysts wrote. “SpaceX’s extensive capabilities for reusable launches and distribution of space applications, we believe, lay the foundation for Starship and future applications that will facilitate another paradigm shift in capabilities.”
Jake Conley is a breaking news reporter covering U.S. stock markets for Yahoo Finance. Follow him on X at @byjakeconley or email him at jake.conley@yahooinc.com..
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