Wall Street Analysts Raise Price Targets for SpaceX Following Strong Q3 Earnings
Space Exploration Technologies Corp (SPCX) has seen a surge in bullish sentiment from major financial institutions following a blowout third-quarter earnings report. The company reported total revenue of approximately $14.6 billion, exceeding Wall Street estimates by $1.7 billion, and net income of $4.4 billion. Looking ahead, SpaceX significantly raised its revenue guidance for the first quarter of 2027 to between $33 billion and $37 billion. Analysts at Citigroup and JPMorgan Chase have responded with increased optimism. Citigroup analyst John Godyn placed the stock on an 'upside 90-day catalyst watch' with a price target of $240, citing upcoming Starship launches as potential catalysts. Meanwhile, JPMorgan’s Doug Anmuth more than doubled his price target to $500 per share, banking on CEO Elon Musk's projections regarding massive AI compute capacity expansion and long-term revenue run rates.
Topics: AI Infrastructure Earnings Report Financial Forecast Revenue Growth Space Data Centers
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Part of the story SpaceX Reports Strong Q3 Earnings Driven by Starlink and AI Segments (12 articles)