Morgan Stanley reiterates its "Overweight" rating on SpaceX with a price target of $300.

October 5: Morgan Stanley reiterated its "Overweight" rating on SpaceX with a target price of $300, and believes the stock looks "cheap" once its growth prospects are taken into account.

Analyst Adam Jonas stated that, after adjusting for growth, SpaceX's trading valuation is about 40% lower than that of mega-cap AI peers. Potential catalysts include the upcoming Starship flight, third-quarter earnings, the Grok release, and more Neocloud deals, while the successful capture of Starship could be the biggest catalyst since the IPO.