SPCX Stock Surges as Mizuho, Morgan Stanley Double Down on Elon Musk’s SpaceX

Wall Street giant Mizuho reiterated bullish calls on Elon Musk’s SpaceX on Friday, following Morgan Stanley’s buy recommendation. As a result, SPCX stock price has jumped more than 1% to $150.

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Mizuho Reiterates Outperform on Elon Musk’s SpaceX

Wall Street investment bank Mizuho gave a buy rating on the stock and reiterated a price target of $200 on September 25. The Wall Street firm expected a further 35% upside in the SPCX stock.

Analyst sees stronger confidence in SpaceX sustaining premium compute pricing into 2027 as incremental capacity comes to market. The new hosting agreement is expected to contribute almost $1.18 billion per month.

Elon Musk’s SpaceX also struck a deal with the U.S. Space Force, giving it access to the Pentagon’s most detailed classified space tracking data. In exchange, SpaceX is sharing Stargaze data from nearly 30,000 Starlink cameras to improve collision tracking across its 11,000 satellites.

Musk said “Our AI efforts are only 3 years old, vs 6 and 10 years old for Anthropic and OpenAI. If our second derivative remains strong, SpaceX will reach pole position in about 6 months.” Musk expects SpaceX AI to reach Fable and GPT-6-level performance within two to three months.

Recently, Morgan Stanley analyst Adam Jonas kept an Overweight rating on Elon Musk’s SpaceX and a $300 price target, a level double from current prices. The bank has even outlined a $600 bull case.

Wall Street giant said the next decade of AI value creation will be decided by who can build, power, connect, and instrument AI in the physical world. Morgan Stanley projected revenue rising toward $319 billion by 2030 amid focus on compute and reusable Starship operations scale.

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SPCX Stock Price Action Today

Mizuho has also cited progress in SpaceX’s AI unit, including Grok model updates that the bank said put the system closer to frontier peers. SpaceX’s $60 billion all-stock deal for coding startup Cursor has remained in the news.

The stock closed Thursday at $148.03 and trades higher around $149.50 in premarket trading hours. The bullish SPCX stock price action recently faded amid concerns over AI safety.

SPCX stock price has recorded an almost 10% rally in a month. However, the stock still trades above its IPO price, but well below its post-listing peak of almost $225.

US stock markets are also rebounding today as oil prices pulled back toward $92 a barrel amid US and Iran considering a phased deal that could reopen the Strait of Hormuz and lift a US naval blockade.

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