Stifel Sees Opportunity For SpaceX In Stalled Data Center Projects — Reiterates ‘Buy’ Ahead Of Flight 15

The brokerage believes SpaceX could capitalize on stalled developments, supported by its investment-grade balance sheet and $40 billion of committed GPU financing

• Stifel sees SpaceX as a potential buyer of stalled data center projects that already have access to electricity.
• The firm reiterated its ‘Buy’ rating on SPCX and a $190 price target.
• SpaceX is targeting Nov. 13 for the Flight 15 launch.

SpaceX (SPCX) was on investors’ radar on Monday, with Stifel stating that the end-to-end space and AI behemoth could benefit from delays in U.S. data center construction following Democrats’ sweeping midterm election victory.

The brokerage believes the Elon Musk-led company could capitalize on stalled developments, supported by its investment-grade balance sheet and $40 billion of committed GPU financing, according to Investing.com.

Stifel also reiterated its ‘Buy’ rating and $190 price target. This represents a near 40% upside from current levels. SPCX shares were trading up 2.4% at the time of writing.

Stifel Sees Opportunity Amid Data Center Hurdles

Analyst Jonathan Siegmann said Democrats’ midterm victory could increase state-level scrutiny of data center permits, potentially delaying new projects and those planned for 2028. Goldman Sachs reportedly estimated that restrictions could affect around 45% of planned U.S. data center capacity expansion.

Democrats’ victory has raised concerns about tighter regulations, particularly in Texas, where incoming Governor Gina Hinojosa has advocated a temporary pause on new data center construction. Shares of SpaceX and Tesla (TSLA) fell sharply following the results. On Thursday, SpaceX dropped nearly 9%, while Tesla plunged more than 11%.

However, Stifel believes the disruptions could benefit SpaceX, positioning it as a potential buyer of stalled data center projects that already have access to electricity.

This follows SpaceX securing a binding commitment for around $40 billion in GPU equipment financing through an Apollo Global Management (APO)-managed entity.

Starship Flight 15 In Focus

Stifel also highlighted Starship Flight 15 as an important milestone for rocket reusability and future space-based computing. SpaceX is targeting Nov. 13 for the mission, with the upcoming flight planned to be the first to return both Starship and Super Heavy to the launch site. If successful, this will mark the first full recovery of an orbital launch system.

The upcoming launch follows Flight 14 in September, when Starship reached orbit for the first time and deployed 26 next-generation Starlink satellites.

Citi previously described Flight 15 as a “monumental space-industry catalyst” that sets the stage for rapid reusability.

Retail’s Take SPCX

Retail sentiment for SPCX on Stocktwits remained ‘bullish’ over the past 24 hours, amid ‘high’ message volumes.

One user expects the stock to climb to $150 by the end of the week.

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Another user highlighted SpaceX’s massive cash in hand.

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The stock has gained around 1.9% over its IPO price of $135.

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