Morgan Stanley Starts Coverage of SpaceX With Overweight, $300 Target

Morgan Stanley on July 7 initiated coverage of SpaceX with an “overweight” rating and a $300 per-share price target, implying about 90% upside from Monday’s close and marking the highest target on Wall Street, according to Jiemian News. The bank said SpaceX is positioned to scale the computing power needed for artificial intelligence and capture the next wave of AI development. Morgan Stanley forecast SpaceX revenue could exceed $3.3 trillion by 2040, driven by new market opportunities in connectivity and “physical AI” services. The report flagged risks including heavy reliance on founder Elon Musk, potential conflicts of interest related to Tesla, regulatory and geopolitical uncertainty, and the company’s large funding needs and limited market depth that could slow deployment of new technologies.