SpaceX’s Q3 Beat Has Analysts Looking Beyond Starlink To AI And Starship – Citi Sees ‘Monumental’ Flight 15 Catalyst

• Morgan Stanley maintained its $300 target, pointing to a revenue beat across segments, particularly AI, while flagging Starlink subscriber numbers as the quarter’s main shortfall.
• Cantor Fitzgerald raised its price target on SpaceX to $345 from $246 and kept an Overweight rating, according to The Fly.
• Koyfin data shows that 30 of the 38 analysts covering SPCX rate the stock a ‘Buy’ or ‘Strong Buy’.

SpaceX (SPCX) shares soared in early premarket trade on Wednesday after multiple analysts raised their price targets following the company’s blowout third-quarter (Q3) results.

According to The Fly, Morgan Stanley asked, “Is it just me, or is the SpaceX story only just now starting to get interesting?” Meanwhile, Citi called Starship Flight 15 a “monumental space-industry catalyst” that could set the stage for rapid reusability.

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SPCX shares traded 8% higher in premarket trading at the time of writing.

According to Koyfin data, 30 of the 38 analysts covering SPCX rate the stock a ‘Buy’ or ‘Strong Buy’.

Cantor Fitzgerald Sees SpaceX ARR Reaching $1 Trillion; Morgan Stanley Flags AI Growth

According to The Fly, Cantor Fitzgerald raised its price target on SpaceX to $345 from $246 and maintained an ‘Overweight’ rating. 

The firm expects SpaceX to sharply outperform, citing a bullish outlook for $500 billion–$1 trillion in year-end 2027 annual recurring revenue (ARR). It also pointed to potentially self-funded compute expansion, semiconductor supply constraints that could support pricing power and industry consolidation, and intelligence-led growth, with additional upside from Space and Connectivity.

Morgan Stanley maintained its ‘Overweight’ rating and $300 price target. According to The Fly, the firm cited a Q3 revenue beat across segments, particularly AI. The analyst described the shortfall in Starlink subscriber numbers as the quarter’s “only clear blemish,” while stronger pricing drove a 7% beat in connectivity revenue. 

Citi And UBS See Starship And AI Compute As Near-Term Catalysts

Citi raised its price target on SpaceX to $240 from $200 and maintained a ‘Buy’ rating. According to The Fly, analyst John Godyn added an “upside 90-day catalyst watch,” saying the company had demonstrated an ability to report quarterly beats alongside higher outlooks and that this trend would continue into Q4. Citi also described Starship Flight 15 as a “monumental space-industry catalyst” that sets the stage for rapid reusability.

UBS raised its price target to $230 from $210 and maintained a ‘Buy’ rating. According to The Fly, the firm expects momentum to continue as new compute deals ramp up in Q4, Starship advances toward ship-and-booster catch milestones, and Grok improves. UBS also cited SpaceX’s combination of assets as a source of significant long-term value as execution progresses.

TD Cowen And Barclays Update SpaceX Estimates After Q3 Beat

TD Cowen raised its price target on SpaceX to $224 from $200 and maintained a ‘Buy’ rating. According to The Fly, the firm cited a Q3 sales and EBITDA beat across SpaceX’s segments and raised its estimates following the earnings report.

Barclays raised its price target to $300 from $254 and maintained an ‘Overweight’ rating. According to The Fly, the firm updated its model following the Q3 beat.

SpaceX Gets A Flurry Of Price Target Hikes

How Retail Views SPCX

On Stocktwits, retail sentiment toward SPCX shifted to ‘extremely bullish’ from ‘bearish’ over the past 24 hours, while message volume remained ‘High’.

One bullish Stocktwits user called SpaceX’s quarterly results a “blowout” and its guidance “mind blowing,” adding that SPCX could climb above $200 soon.

Another Stocktwits user said SpaceX’s earnings report gave investors a clearer picture of the potential scale of the Tesla-SpaceX combination.

SPCX shares have dropped over 1.4% year-to-date.

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