Morgan Stanley Analyst Says SpaceX Stock Price Could Double

Key Summary

Morgan Stanley analyst Adam Jonas has reaffirmed a $300 target for SpaceX stock, nearly doubling its current price, citing undervaluation of the company's artificial intelligence business. The stock trades around 40% below mega-cap AI peers and has slid 30% from its post-IPO high. Jonas tested demand among 40 clients and found none owned the stock, citing concerns over the AI arm's losses and Starlink's spectrum acquisition. A successful Starship flight and new computing deals could boost the stock, while a drop to $100 within a year could signal an AI slowdown or Starship setback.