SPCX Stock Surges as Bernstein Raises Elon Musk’s SpaceX Price Target to $248

SPCX stock climbed almost 3% premarket on Thursday after Bernstein raised their price target on Elon Musk’s SpaceX. The Societe Generale Group firm cited the company’s strong revenue expectations and improved compute pricing outlook after the recent Q2 earnings results.

Bernstein Recommends Buy on Elon Musk’s SpaceX

Bernstein SocGen Group maintained an ‘outperform’ rating on SpaceX on August 6, recommending a buy despite growing concerns about increasing AI spending. The firm also raised its price target on SPCX stock to $248 from $239.

This comes days after Bernstein initiated coverage on Elon Musk’s SpaceX with an outperform rating and a $239 target. The firm highlighted SpaceX’s Starship program as the single most critical driver for the company’s valuation.

The latest raise in SPCX stock price target comes after SpaceX’s first quarterly earnings beat Wall Street estimates. Notably, revenue jumped 92% to $7.81 billion and net loss narrowed to $541 million.

Bernstein’s latest price target revision signals more than 129% upside from current levels. This shows Wall Street analysts are looking beyond heavy AI spending.

However, some investment banks and institutional securities firm such as Piper Sandler reduced their price target for SpaceX stock. Piper Sandler cut its price target to $140 from $156, citing challenges that could limit upside despite Elon Musk’s estimate of $1 trillion in revenue by 2030.

SPCX Stock Jumps 3%

Despite reporting strong revenue and earnings beating Wall Street estimates, company SPCX stock closed 13.61% to $108.27 on Wednesday. It comes as a massive $18.4 billion capital expenditure surge tied to AI infrastructure spooked investors.

Today, SPCX stock has surged 3.69% to $112.27, hovering above its 52-week low of $104.83. Also, more than 911 million SPCX shares worth about $98 billion are becoming eligible to trade as SpaceX IPO lockup expires today This represents roughly one-fifth of the shares under lockup.

More unlocks are expected in the coming weeks, with over 4 billion shares becoming tradable by year-end, creating a potential overhang even as long-term fundamentals remain in focus.

$SPCX – SPACEX FACES MASSIVE SHARE UNLOCK

Up to 911.5M SpaceX shares unlock today—more than 140% of the current public float—raising the risk of near-term volatility.

The stock fell 12% after earnings despite beating on revenue and posting an unexpected AI profit.

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— *Walter Bloomberg (@DeItaone) August 6, 2026

Meanwhile, Cathie Wood’s ARK Invest purchased over $19.69 million of Elon Musk’s SpaceX shares across its ETFs. ARK ETFs also bought Nvidia Corp (NVDA) and Circle (CRCL) stocks.

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