Key Highlights
- JPMorgan analyst Doug Anmuth reiterated a Buy rating and $240 price target on SpaceX on September 1.
- SPCX traded at $140.82 on Wednesday, putting JPMorgan’s target about 70% above the current share price.
- Other recent analyst targets include $300 from Morgan Stanley and $280 from Oppenheimer.
Space Exploration Technologies Corp. (NASDAQ: SPCX) remained in focus on Wednesday after JPMorgan reiterated its $240 price target on the stock, maintaining its bullish view as shares traded near $141.
SPCX was trading at $140.86 at 5:30 PM UTC on September 2, down 0.99% for the session. The stock had closed the previous session at $142.23.
JPMorgan analyst Doug Anmuth reiterated a Buy rating on September 1, according to Google Finance analyst data. The $240 target represents about 70.4% upside from the stock level used in the latest analyst comparison.
The latest action does not represent a new price-target increase. JPMorgan had already moved its target to $240 before the September reiteration, with the bank maintaining the same valuation in late August when SPCX was trading closer to $135.
JPMorgan Keeps $240 SpaceX Valuation
Anmuth’s latest call leaves JPMorgan’s valuation unchanged even as SpaceX shares have moved higher from levels seen during the bank’s previous assessment.
When JPMorgan’s $240 target was reported in August, the figure implied close to 80% upside from a share price of around $135. With SPCX now trading near $141, that gap has narrowed to roughly 70%.
JPMorgan’s earlier SpaceX thesis placed greater emphasis on the company’s expanding artificial intelligence operations alongside businesses including Starlink and launch services.
The bank had highlighted SpaceX’s AI strategy and its acquisition of coding platform Cursor as factors that could broaden the company’s longer-term revenue base beyond its traditional space operations.
SpaceX’s push into AI has also featured in other Wall Street valuations. Morgan Stanley maintained a $300 target while outlining a higher bull-case valuation as analysts assessed the potential contribution from AI alongside Starlink and the core space business.
Wall Street Targets Remain Above SPCX Price
JPMorgan is not the only brokerage maintaining a target substantially above SpaceX’s current market price.
The same Google Finance data shows Morgan Stanley analyst Adam Jonas maintained a Buy rating and $300 target on August 31, representing about 113% above the reference share price.
Oppenheimer analyst Timothy Horan maintained a Buy rating with a $280 target on September 2, while Bank of America Securities analyst Ronald Epstein also maintained a Buy rating the same day without a displayed price target.
Fubon Securities initiated coverage on August 31 with a Buy rating and $183 target, considerably closer to the current SPCX price than the targets from JPMorgan, Morgan Stanley and Oppenheimer.
The range reflects differing assumptions over how much value investors should assign to SpaceX’s launch operations, Starlink, AI initiatives and other emerging businesses.
SpaceX Still Trades Above Its $135 IPO Price
SpaceX entered the public market in June after pricing its initial public offering at $135 per share. The stock rallied sharply during its Nasdaq debut, opening above the IPO price before experiencing significant volatility during its first months as a publicly traded company.
SPCX later fell below its listing price before reclaiming the $135 level in August. At $140.82 on Wednesday, the stock was about 4.3% above its $135 IPO price, but remained well below several of the latest Wall Street targets.
Tokenized products Extend SpaceX Exposure to Crypto Markets
SpaceX has also become part of the growing tokenized-equities market, where blockchain-based products provide eligible crypto traders with price exposure linked to publicly traded shares.
Several issuers have introduced SpaceX-linked tokens since the company’s listing. The Crypto Times has tracked activity across tokenized SpaceX products as trading volumes and holder counts developed after the IPO.
Some products are structured as tokens backed by underlying shares, while others can use different arrangements to replicate equity exposure. Custody, settlement, shareholder rights, blockchain support and regional availability therefore vary between products.
Trading activity has also responded to movements in the underlying stock. In August, SpaceX-linked tokenized product SPCXB recorded a jump in trading volume alongside renewed activity around SPCX.
Tokenized products do not necessarily provide the same ownership rights as holding SpaceX common stock through a traditional brokerage account. Their market value can also differ depending on liquidity, issuer structure and how closely the product tracks the underlying shares.
JPMorgan’s $240 target applies specifically to Nasdaq-listed SPCX shares, while tokenized products represent separate instruments linked to movements in the underlying equity.
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