Key Takeaways
- SpaceX shares advanced approximately 1% in Tuesday’s premarket session, trading around $146.65 after Monday’s pullback.
- TD Cowen’s John Blackledge launched coverage with a Buy recommendation and $200 price objective, representing roughly 40% potential upside.
- The Starship vehicle achieved orbital status during its 14th test mission, successfully deploying 26 advanced Starlink satellites.
- Buy ratings account for 76% of analyst recommendations on SpaceX, with consensus price targets hovering near $223.
- Wall Street projects AI computing infrastructure leasing, serving clients like Google and Anthropic, will emerge as the company’s primary growth driver.
Shares of SpaceX posted a 1% gain during Tuesday’s premarket session, reaching $146.65 as the stock recovered a portion of the previous day’s losses. The uptick followed a wave of positive sentiment from the analyst community.
Space Exploration Technologies Corp., SPCX
On Monday, TD Cowen analyst John Blackledge launched coverage on SpaceX with a Buy recommendation. His $200 price objective suggests approximately 40% upside from current trading levels.
Blackledge highlighted the company’s terrestrial AI computing operations as a primary catalyst for his optimistic stance. SpaceX has been leasing computational infrastructure to technology giants including Anthropic and Alphabet, generating billions in monthly revenue.
The analyst also emphasized Starship’s long-range prospects, noting that the fully reusable launch system could amplify both the AI computing segment and Starlink’s satellite broadband operations.
Historic Starship Achievement
Monday’s 14th Starship test mission represented a breakthrough for the program. The vehicle successfully entered orbit for the first time while deploying 26 enhanced next-generation Starlink satellites.
RBC’s Ken Herbert characterized the flight as a pivotal advancement for SpaceX’s launch operations in research notes issued Monday. William Blair’s Louie DiPalma shared similar enthusiasm, connecting Starship’s progress directly to the company’s computing infrastructure ambitions.
DiPalma referenced recent comments from Elon Musk indicating that SpaceX plans to deploy one gigawatt of computing capacity by 2028 for significantly less than $65 billion. This projection is particularly noteworthy considering traditional ground-based AI computing infrastructure at that scale typically requires $40 billion to $50 billion in capital expenditure.
Terrestrial data facilities also face recurring operational expenses that space-based alternatives could eliminate, particularly utility costs for electricity. SpaceX’s economics should improve substantially as Starship launch frequency accelerates.
Wall Street Consensus Strengthens
According to FactSet data, approximately 76% of analysts monitoring SpaceX maintain Buy ratings on the stock. This percentage significantly exceeds the 55% to 60% range typically observed across S&P 500 constituents.
SpaceX now attracts coverage from more than 40 analysts spanning aerospace, technology, and telecommunications sectors. The consensus price target stands at approximately $223.
Blackledge’s coverage universe typically includes major technology companies such as Amazon and Meta Platforms. Meanwhile, Herbert and DiPalma concentrate on aerospace and defense industries.
TD Cowen forecasts that AI computing leasing revenue will constitute the majority of SpaceX’s total sales by the first quarter of 2027. The firm anticipates expanding terrestrial gigawatt-scale capacity will fuel this transition.
SpaceX recorded $23 billion in trailing twelve-month revenue. Wall Street analysts are modeling 144% revenue expansion for the 2026 fiscal year.
Additional firms have recently issued optimistic assessments. Clear Street maintained its Buy recommendation with a $217 price objective following Starship’s orbital success and satellite deployment.
Bernstein SocGen Group sustained its Outperform rating, forecasting that Starlink’s residential internet service could generate approximately $64 billion in annual revenue by 2031. The projection stems from Starlink’s subscriber growth, which has doubled yearly for four consecutive years.
Mizuho joined the chorus on Monday, confirming its Outperform stance with a $200 price target. The firm highlighted SpaceX’s capacity to maintain premium market pricing as a fundamental strength supporting its recommendation.
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