Morgan Stanley Maintains Overweight Rating on SpaceX, Sets $600 Price Target in Bullish Scenario

August 12, Morgan Stanley reiterated its overweight rating on SPCX, with a target price of $300 in a bull market scenario of $600.

Analyst Adam Jonas believes the market has underestimated SpaceX's broader AI platform, including its computing, connectivity, and real-time data capabilities. The upcoming Grok model launch may help narrow this valuation gap. Jonas sees the upcoming lock-up expiration as an opportunity rather than a risk, providing potential entry points for investors.