Morgan Stanley sets $300 price target for SpaceX stock

Morgan Stanley analyst Adam Jonas set a price target of $300 for SpaceX shares in early October, the highest target among major banks since the company's 2024 IPO. At the time, shares were trading at around $160 to $175, so the target suggested a rise of up to 87 percent. Jonas kept his "Overweight" rating, meaning he believes the stock is a strong buy. He pointed to SpaceX's work in artificial intelligence, cloud services, and its Starship rocket as reasons for growth. He said an upcoming attempt to catch Starship's upper stage in mid-air could be the biggest positive event since the IPO. SpaceX shares rose on October 6 after Morgan Stanley repeated its positive view. Third-quarter earnings were expected in late October.