Multiple Investment Banks Set Target Prices Above $200 — Despite SpaceX Stock Not Rising, Market Still Shows Strong Confidence

On July 7, Eastern Time, SpaceX (stock ticker: SPCX) saw a notable decline in its share price. Despite this, several of Wall Street’s largest investment banks simultaneously launched research reports, almost unanimously issuing positive recommendations, stating that recent stock volatility does not impair the company’s long-term growth potential.

As of approximately 2:32 PM Eastern Time on July 7, SpaceX’s stock was trading around $152 per share, down about 5% on the day. This marked the company’s first trading session since its official inclusion in the Nasdaq-100 Index. Although the stock price remains above the IPO (initial public offering) price of $135, it is significantly below its post-listing peak of $225.64.

Official Inclusion in Nasdaq-100 Index

The company, legally named Space Exploration Technologies Corp., has seen its share price fluctuate near the IPO level for most of the three weeks since going public. Analysts note that its official inclusion in the Nasdaq-100 Index is expected to attract purchases from index funds and ETFs, providing additional buying support.

Multiple major investment banks, upon initiating coverage, have almost universally assigned positive ratings such as 'Buy,' 'Overweight,' or 'Outperform.'

JPMorgan Chase initiated coverage with an Overweight rating and a $225 price target, stating that SpaceX’s ambitions are among the largest of any publicly traded company. The firm believes that despite the company’s market capitalization already exceeding $2 trillion, there remains substantial upside potential.

Morgan Stanley assigned an Overweight rating and a $300 price target—the highest among major banks. The report emphasized SpaceX’s dominant position in launch services, its expanding low-Earth orbit satellite network, and its rapidly growing artificial intelligence infrastructure business.

Bank of America gave a Buy rating and a $235 price target, stating that SpaceX has transformed from a pure launch service provider into a foundational participant in the emerging space economy, with reusable rocket technology opening multiple future growth opportunities.

Goldman Sachs initiated coverage with a Buy rating and a $205 price target, arguing that SpaceX is well-positioned to capture large markets in reusable launch systems, satellite communications, and AI computing.

Bernstein issued an Outperform rating with a $239 price target, noting that the core investment question for SpaceX is not 'if' but 'when' long-term goals will be achieved. While the firm expects AI-related revenue growth may be slower than management forecasts, it still believes the company will ultimately reach these milestones.

RBC Capital Markets also gave an Outperform rating and a $225 price target, acknowledging execution risks in SpaceX’s space programs but emphasizing its history of technological disruption, vast addressable market size, and strong financial resources.

Macquarie initiated coverage with an Outperform rating and a $250 price target, highlighting the company’s vertical integration advantages, first-mover status, engineering strength, and expanding AI partnerships.

UBS assigned a Buy rating and a $210 price target, describing SpaceX as a company combining multiple unique assets with diversified long-term growth drivers. It noted that Starship has the potential to unlock major commercial opportunities in launch services, communications, and AI infrastructure.

Deutsche Bank initiated coverage with a Buy rating and a $255 price target, arguing that SpaceX has built strong competitive advantages in transportation, connectivity, and AI, with few competitors capable of genuine challenge.

Finally, Mizuho initiated coverage with an Outperform rating and a $200 price target. The firm advised investors to view SpaceX as an infrastructure company rather than just a rocket manufacturer. While acknowledging that some AI and orbital data center opportunities remain unproven, it believes the market currently underestimates the company’s long-term option value.

Overall, major Wall Street investment banks widely regard SpaceX as transcending traditional aerospace firms, positioning it as a long-term infrastructure investment spanning space transportation, satellite broadband, artificial intelligence, and next-generation computing.