SpaceX Stock Price Target Raised To $230 as Pivotal Research Cites Starlink Growth
Highlights
- Pivotal Research has raised the SpaceX stock price target from $220 to $230.
- The firm also maintained a buy rating on the stock.
- Pivotal Research tied Starlink's growth to this forecast.
Pivotal Research has raised its price target for the SpaceX stock to $230 while maintaining its buy rating. The firm cited Starlink’s growth for this move, with the company on course to become a mobile carrier in the U.S.
Pivotal Research Raises SpaceX Stock Price Target to $230
The firm’s analyst raised SPCX’s stock price target from $220 to $230 while keeping the buy rating for the stock unchanged. The analyst cited SpaceX’s $8 billion Spectrum acquisition and FCC approval to launch 15,000 Starlink mobile satellites, noting that Elon Musk had called them the last piece the company needs to become the 4th U.S. mobile carrier.
Pivotal Research predicts that Starlink Mobile could capture 13% of the U.S. wireless network in 10 years and 1.5% of the international market. Further supporting a more bullish view of SpaceX stock, the analyst said that Starlink Mobile revenue could fund a private mesh for Teslas, Cybercabs, robots, and the rest of the device fleet.
Meanwhile, the firm expects SpaceX to save up to $90 billion since Spectrum’s build does not rely on traditional cell towers. They added that Spectrum’s non-reliance on traditional towers is another reason Starlink Mobile can undercut competitors on pricing.
Pivotal Research’s forecast follows Morgan Stanley’s prediction that the SpaceX stock could reach $300. The bank’s analyst cited several upcoming bullish catalysts, including Starship flights, Grok releases, and additional Neocloud agreements.
The Company’s International Reach Could Expand Exponentially
Pivotal Research expects Starlink to reach about 160 million global subscribers by 2036, with blended average revenue per user (ARPU) in the low $20s. The firm added that it views the international forecasts as particularly conservative, suggesting the company could well exceed expectations.
Interestingly, this comes as Elon Musk seeks final approval to launch Starlink in India. The world’s richest man had last week accused the country’s telecom giants of frustrating efforts to secure this final security clearance for the rollout.
The SpaceX stock is up today at the market open, trading at around $164, according to TradingView data. However, the stock is down over 2% in the last week.
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