Analyst Predicts SpaceX Stock Price to Hit $200 Amid AI Boom
Highlights
- TD Cowen sets a $200 price target for SpaceX stock, citing strong growth potential from AI compute leasing.
- SPCX stock price has extended its monthly gains to over 5%.
- AI compute leasing could contribute around 60% of SpaceX revenue by 2027, according to TD Cowen.
The SpaceX (SPCX) stock price ended the session on September 29 in the green, suggesting strong investor confidence. In addition, this comes as an analyst from a renowned financial firm has provided a $200 price target for the asset.
The analyst has said that the AI compute leasing of SpaceX is likely to be a major catalyst that would drive its price higher in the coming days. So, here we explore the recent developments around Elon Musk’s firm and see what the analyst is predicting.
Analyst Sees More Upside for SpaceX Stock Price
The SpaceX stock price ended the session on Tuesday in the green, adding around 2.6% to $149.24 from its prior close. Over the last 30 days, the SPCX stock was up more than 5%, suggesting steady growth for the asset.
Amid this, TD Cowen has started coverage of SpaceX with a Buy rating and a $200 price target. Analyst John Blackledge sees AI compute leasing as the company’s fastest-growing revenue stream.
Meanwhile, the forecast places growing attention on SpaceX’s shift beyond rockets and satellites. Its terrestrial computing business could become an increasingly important part of its revenue mix.
According to TD Cowen, AI compute leasing could represent about 60% of SpaceX revenue in 2027. The firm expects demand from companies such as Google and Anthropic to support this expansion.
Shay Boloor highlighted the development in a recent X post, saying that the market could still be underestimating Starlink and Starship. That creates an interesting investment narrative around SpaceX (SPCX) stock price.
Anthropic Deal Fuels Optimism
The latest $200 price target for SpaceX stock came amid news of a large-scale computing agreement between Anthropic and SpaceX. Anthropic has disclosed arrangements involving up to $84.5 billion in Nvidia-based computing capacity through 2029.
Meanwhile, the reported agreements represent a substantial expansion from an earlier arrangement. SpaceX previously disclosed potential payments of nearly $45 billion from Anthropic, involving about $1.25 billion in monthly payments.
Simultaneously, the market pundits have also remained bullish on the long-term trajectory of SpaceX stock price and the firm, citing its operational models. Recently, Shay Boloor has compared SpaceX with Amazon and Tesla, and said that SpaceX may witness robust growth in the near future.
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