XSPC
Same rocket, shinier valuation
Morgan Stanley is back with a fresh look at SpaceX and, surprise surprise, the firm still sees plenty to like. The bank reiterated its $300 target, framing the company through a growth-adjusted valuation lens — Wall Street’s way of saying the price tag looks wild until you plug in all the future launch cadence, satellite revenue, and moonshot-sized expectations.
Why investors should care
For a private company like SpaceX, a call like this doesn’t move a public ticker the way an earnings beat would. But it still matters because it helps set the tone for secondary trading, private-market sentiment, and every other investor trying to decide whether the rocket ship is still on the launchpad or already halfway to Mars.
- A $300 target implies the market still assigns serious value to SpaceX’s growth machine.
- The “growth-adjusted” framing suggests the upside case is still about scale, not just current profits.
- Any fresh bullish-ish note on SpaceX tends to ripple through adjacent space and satellite names like they’re standing in the rocket exhaust.
Big picture
This is less about today’s numbers and more about how expensive a future can look when everyone agrees it might be enormous. In other words: SpaceX remains the kind of company that can make a valuation model sweat and still look confident doing it. Big picture: the rocket story is alive, well, and apparently still worth $300 a share in Morgan Stanley’s book.