JPMorgan turns more bullish on SpaceX

JPMorgan says: still room to run

SpaceX keeps doing that annoying thing where it refuses to behave like a normal stock. After jumping more than 18% this week, the shares got another boost when JPMorgan’s Doug Anmuth raised his 12-month target.

Why this matters

Analyst calls on a name like SpaceX matter because the valuation is basically a never-ending debate club. Every target raise gives bulls more ammo that the company’s growth story can keep outrunning all the usual worries — especially after a giant wave of unlocked shares could’ve turned the tape into a mess.

The market’s weird little logic puzzle

Here’s the setup:

• The stock is already running hot
• Massive share unlocks were supposed to create pressure
• Instead, buyers kept showing up
• Now JPMorgan is nudging expectations higher

That’s the kind of cocktail that makes traders sit up straight. If the stock can shrug off supply and still attract fresh bullish calls, the market is basically saying it still wants in on the story.

Big picture

This isn’t a revenue print or a rocket launch, so don’t treat it like a hard-number fundamental reset. But in a stock like SpaceX, analyst sentiment can act like lighter fluid — especially when the shares are already moving fast and everyone’s trying to guess how much upside is left.