Wall Street Revisits Optimism for SpaceX Ahead of Starship Test Flights
Following a period of decline after its Nasdaq debut, SpaceX's stock has rebounded to near its IPO price. Analysts are increasingly viewing the company as undervalued relative to its growth potential despite a high forward earnings multiple. Morgan Stanley analyst Adam Jonas highlighted that SpaceX offers strong value for investors interested in the space and intelligence economy ahead of Flight 15, an upcoming test flight expected later this month or early November. The Starship rocket is seen by Wall Street as pivotal due to its reusable design and large payload capacity, which could significantly reduce costs. With a dominant market share in private launches, SpaceX's progress on catching the upper stage during flights may serve as a major positive catalyst for investors. Analysts from both Morgan Stanley and Wells Fargo have set price targets above current levels, indicating substantial upside potential. Deutsche Bank analysts suggest that the broader space sector is at or near its cyclical trough after multiple corrections in recent years. The market capitalization of top global space stocks excluding SpaceX has grown significantly since 2025 but declined through early 2026, hinting at a possible rebound.
Topics: analyst reports SpaceX Starship rocket Wall Street sentiment