JPMorgan Raises SpaceX Price Target to $500 Following Strong Q3 Earnings and AI Expansion
SpaceX shares surged over 9% on Wednesday following a significant third-quarter earnings beat. The company reported adjusted earnings of $0.45 per share on $14.6 billion in revenue, surpassing analyst consensus estimates. This performance has prompted JPMorgan to upgrade its outlook, more than doubling its 12-month price target from $240 to $500. The growth is being driven by SpaceX's aggressive expansion into artificial intelligence and computing power. Elon Musk projected annual recurring revenue between $500 billion and $1 trillion by the end of 2027, a figure that vastly exceeds Wall Street's $110 billion consensus. JPMorgan analysts highlighted the company's plan to scale computing capacity from current levels to approximately 13 gigawatts by 2027 as a key driver for future monetization.
Topics: AI expansion analyst upgrade earnings beat price target increase revenue growth
Part of the story SpaceX Shares Surge Following Q3 Earnings Beat Driven by Super Intelligence Division (9 articles)