Wall Street Raises SpaceX Targets as JPMorgan Hikes Price Objective to $500

Major Wall Street brokerages have sharply lifted their outlooks for SpaceX following strong third-quarter results. JPMorgan Chase more than doubled its price target to $500 from $240 with an Outperform rating, while Citigroup raised its target to $240 and opened a 90-day positive catalyst watch. Bernstein also increased its target to $268 from $248. The revisions follow SpaceX's third-quarter revenue of $14.6 billion, beating estimates by nearly $1.7 billion, and net income of $4.4 billion. Brokers highlighted expanding artificial intelligence compute targets alongside first-quarter 2027 revenue guidance of $33 billion to $37 billion.