SpaceX Gets Buy Ratings From Three Wall Street Giants Ahead Of Nasdaq-100 Entry

Wall Street giants Morgan Stanley, Goldman Sachs, and Wells Fargo initiated coverage of SpaceX with a ‘buy’ rating, citing long-term growth potential driven by the AI, space, and communications verticals.

• Wells Fargo expects Starship to strengthen the company’s Starlink satellite internet business in the near term.
• The firm said its financial forecasts through 2028 depend mainly on SpaceX’s ability to execute its plans rather than develop new technologies.
• Goldman Sachs bets on SpaceX’s prospects in space, satellite connectivity, and AI, with each vertical expected to become a multi-trillion-dollar industry.

SpaceX (SPCX) drew fresh support from Wall Street as it prepares to join the Nasdaq-100 Index on Tuesday. Major brokerages, including Morgan Stanley and Goldman Sachs, initiated coverage with bullish ratings, highlighting the company’s strong long-term growth prospects across space transportation, satellite communications, and artificial intelligence.

SPCX shares were down about 0.5% in premarket trading on Tuesday. Despite a strong start following its June 12 debut, the stock had slipped 0.3% through Monday’s close.

Starship To Support AI Infrastructure Development In The Long Run

Wells Fargo started coverage with an ‘Overweight’ rating and a $230 price target, according to The Fly. This represents a more than 43% potential upside from Monday’s closing price.

While acknowledging that breakthrough technologies often face development delays, analyst Ken Gawrelski said Starship could significantly expand SpaceX’s market opportunity. In the near term, Starship is expected to strengthen the company’s Starlink satellite internet business, while over the longer term it could support a cost-efficient AI infrastructure.

The firm said its financial forecasts through 2028 depend mainly on SpaceX’s ability to execute its plans rather than develop new technologies. Beyond 2029, the analyst sees “multiple call options.”

SpaceX’s Long-Term Growth Drivers

Morgan Stanley initiated coverage with an ‘Overweight’ rating and a $300 price target, implying about 87% upside from its last closing price. According to investing.com, the firm cited four key long-term growth drivers, including the company’s ability to monetize enterprise AI, expand Starlink’s satellite network, and lower launch costs through Starship.

Morgan Stanley also highlighted that SpaceX’s vertically integrated manufacturing strategy, including Terafab and Solarfab, will reduce costs in the long run.

Meanwhile, Goldman Sachs initiated coverage with a ‘Buy’ rating and a price target of $205. The brokerage believes SpaceX is well positioned to benefit from expanding opportunities in space, satellite connectivity, and AI, with each market having the potential to become a multi-trillion-dollar industry over the next five years.

SPCX To Join Nasdaq 100 Index

On Tuesday, SpaceX will officially join the Nasdaq 100 Index under Nasdaq's “Fast Entry” rule introduced in May. According to a Reuters report, JPMorgan estimates the index inclusion could drive up to $4.3 billion in inflows into the stock.

Retail sentiment on Stocktwits remained in the ‘bearish’ zone over the past 24 hours.

Chatter was mixed, with one user stating, “buy, hold and come back in five years.”

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While another user expects the stock to fall between $135 and $140.

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