Morgan Stanley Slings SpaceX to $300, and the AI Hype Machine Tags Along 🚀

Morgan Stanley has reaffirmed a $300 price target on SpaceX, with analyst Adam Jonas maintaining an Overweight rating on the private aerospace company. The target, reiterated in coverage picked up by market commentator Walter Bloomberg, points to substantial upside from recent trading levels near $171. The stock extended its rally on Monday, closing up roughly 8% in the session that followed the renewed bullish outlook.

According to the reported analysis, SpaceX trades about 40% below mega-cap artificial intelligence peers on growth-adjusted valuations, a gap Morgan Stanley views as a disconnect between fundamentals and market perception. The firm framed the comparison as a way to underscore the company's exposure to AI-related demand, even as its core business remains launch services and Starlink broadband.

The renewed price target also coincides with renewed attention to Elon Musk's public commentary on artificial intelligence, including his recent remarks on super intelligence. Investors and analysts have increasingly drawn a line between Musk's AI ventures and SpaceX's longer-term growth narrative, though Morgan Stanley's note did not assign a direct valuation premium to those adjacent projects.

SpaceX remains a privately held company, and its shares trade on secondary marketplaces rather than public exchanges. The $300 target is therefore a valuation benchmark rather than a guaranteed market price, and execution of the bullish thesis would depend on continued Starlink monetization, launch cadence, and broader appetite among private-market investors. Jonas's $300 target has been a recurring reference point in Morgan Stanley's coverage of the company.

The latest call adds to a string of bullish Wall Street commentary on SpaceX this year, as the company deepens ties with both the U.S. defense establishment and the AI infrastructure buildout. The $300 target reflects Morgan Stanley's existing framework for valuing the company, and the firm has not publicly attached a specific timeline for reaching that level.