SpaceX shares go up almost 8 percent on Monday, reaching their highest level since mid-June, shortly after Elon Musk company hold its record initial public offering.
With that rally, Musk don become trillionaire again.
The jump follow one Sunday note from Morgan Stanley analysts, who call SpaceX ‘cheap’ at today prices, and highlight ‘future AI product releases, Starship progress, and additional neocloud contracts.’
Dem recommend say make people buy the stock and dem get $300 price target, which represent increase of about 75 percent from Monday $171.09 close.
Late last week, SpaceX conduct multiple historic flights in one day, including sending crewed mission for NASA to International Space Station, and separate launch of Google AI chips into orbit.
Morgan Stanley analysts suggest say investors buy SpaceX shares before the company next planned test flight for its massive Starship rocket, and ahead of its third-quarter earnings report wey dem expect late October.
Starship na SpaceX next-generation spacecraft, the largest rocket ever built, and dem design am to be fully reusable with both upper stage and booster able land safely back on Earth.
Dem expect the system to supercharge SpaceX business, bringing company Starlink satellites into orbit, as well as cargo and crews from other companies and agencies.
If SpaceX try Starship upper stage ship catch in its next test flight, that could be ‘the biggest positive catalyst since the IPO,’ the analysts write.
For prior test flights, Starship upper stage don make splash downs for ocean, but dem never prove am reusable.
SpaceX also dey get boost from its artificial intelligence business, which e gain through acquisition of Musk xAI last year and expand through recent acquisition of Cursor.
Even though company homegrown Grok model never take off like leading models from OpenAI and Anthropic, SpaceX dey generate hefty revenue by renting out capacity to likes of Google and Anthropic.
Musk get benefit of close ties to Trump administration.
On Wednesday, Pentagon appoint Musk as co-lead of Project Meridian, one initiative wey involve identifying weapons, technologies and military capabilities the U.S. may need in future wars.
SpaceX dey make large chunk of its revenue from U.S. government and increasingly from defense contracts, earning over $12.7 billion to date from its work with Defense Department, according to FedScout.
Musk talk over weekend say he go rename SpaceX AI division, known as SpaceXAI, as SpaceXSI, embracing President Donald Trump new branding.
As him company stock soar on Monday, Musk no dey present at New York City Council hearing, where city officials grill AI leaders and researchers about how technology should be regulated.
Representatives from OpenAI, Anthropic, Google and Meta attend to testify.
Councilmember Shekar Krishnan note say, ‘AI has taken over our economy, inflated valuations, stealing our public land for data centers, and increasing the net worth of AI CEOs like Elon Musk, who became our first ever trillionaire.’
According to Forbes real-time billionaires list, Musk currently worth $1.03 trillion, factoring in him holdings in Tesla and SpaceX.
SpaceX go public on June 12, and jump to record close of $201.80 on June 16.
The shares start trending lower soon after, bottoming in early August.
They don climb about 58 percent since then.
SpaceX no immediately respond to request for comment.
