Morgan Stanley Reaffirms Overweight Rating on SpaceX, Sets $600 Bull Case Target

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Morgan Stanley reaffirmed its overweight rating on SpaceX (SPCX) on August 12, 2026, with a $300 price target and a $600 bull case. Analyst Adam Jonas highlighted the underappreciated value of SpaceX’s AI platform, including its computing and real-time data capabilities. On-chain analysis indicates rising interest in the company’s connectivity and data infrastructure. The upcoming Grok model release and lock-up expiration are viewed as catalysts, not risks.

ChainThink reports that on August 12, Morgan Stanley reaffirmed its overweight rating on SPCX with a price target of $300 and a bullish case target of $600.

Analyst Adam Jonas believes the market has underestimated the broader value of SpaceX’s AI platform, including its computing, connectivity, and real-time data capabilities. He suggests that the upcoming Grok model could help narrow this valuation gap.

The upcoming end of the lock-up period is viewed as an opportunity rather than a risk, potentially offering investors a chance to enter.

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