Morgan Stanley analyst Adam Jonas said the firm expects SpaceX to achieve positive cash flow by 2031, four years earlier than previously forecast, and reaffirmed its bullish stance on the company led by Elon Musk. According to Sina Finance, an investor report shared on X by Sawyer Merritt on Tuesday said Morgan Stanley had nearly doubled its revenue and earnings estimates and raised its 2027 revenue forecast to $175 billion. The firm raised its fiscal 2027 and 2028 revenue forecasts by 93% and 84%, respectively, to $175 billion and $289 billion, lifted its operating profit forecast by 72% to $119 billion, and cut its projected debt issuance by about $280 billion. Jonas said Morgan Stanley had initially expected SpaceX’s free cash flow to remain negative through 2035. Separately, following SpaceX’s third-quarter earnings call, KeyBanc analyst Michael Leshock raised his 2027 capital expenditure estimate for the company to $473 billion and said it would need to raise an additional $475 billion by 2028.