Elon Musk’s SpaceX (SPCX) Stock Gets ‘Buy’ Call from Morgan Stanley, Goldman Sachs & Citi

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Expertise : Bitcoin, Crypto, Global Macro, DeFi, Blockchain, Web3, US Stocks, AI, Regulations and Lawsuits, & More

Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.

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Elon Musk's SpaceX (SPCX) Stock Gets 'Buy' Call from Morgan Stanley, Goldman Sachs & Citi

Morgan Stanley, Goldman Sachs, and Citigroup Initiated Coverage on Elon Musk’s SpaceX

Morgan Stanley initiated coverage on Elon Musk’s SpaceX stock with an ‘overweight’ rating. Also, Wall Street giant’s analyst Adam Jones set a $300 price target for the base case and a $600 price target for the bull case, indicating nearly 87% further upside from the current market price.

Analyst Adam Jonas highlighted SpaceX’s key growth drivers, including Starship launch economics, space-based AI infrastructure, and Starlink satellite network initiatives.

In addition, Goldman Sachs initiated coverage of Elon Musk’s SpaceX stock with a buy rating and $205 price target. The firm sees the company’s scale and its advantages across space, connectivity, and AI industries.

Goldman Sachs’ analyst Eric Sheridan added that each of these markets has the potential to become “multiple trillion-dollar opportunities over a 5+ year time horizon.”

Moreover, Citigroup and several other firms, including UBS and Wells Fargo, have joined the bullish calls with buy ratings. Citigroup analyst set a 12-month price target of $200.

SPCX Stock Slips Ahead of Nasdaq 100 Listing

SPCX stock closed 0.98% lower at $160.42 on Monday. The stock saw massive profit booking in the past few days, reducing last week’s return to just over 2%.

Elon Musk’s SpaceX stock has dropped 1.75% in premarket trading hours on Tuesday. This comes just ahead of its inclusion in the Nasdaq-100 index. The stock is the third-largest Bitcoin holder in the index, alongside Strategy and Tesla.

SPCX USDC perps are also down almost 3.15% at $159.17 on Hyperliquid. The trading volume was $284 million at press time.

Meanwhile, Bitcoin price continues to build upside momentum while holding above 200-WMA at $62,865. The price is currently trading near $63,300, with a 24-hour high of $64,597. Trading volume remains more than 70% higher as Grayscale claimed Strategy’s BTC sales are good for Bitcoin price bottom.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.