Though September rating and price target revisions for SpaceX (NASDAQ: SPCX) stock have generally been positive, the banking giant Morgan Stanley (NYSE: MS) set a new high forecast for the month of Tuesday.
Specifically, analyst Adam Jonas estimated not only that SPCX shares can hit $300, but that the equity will be trading at that price within the next 12 months.
Notably, the price target indicates the expert’s confidence in SpaceX stock’s ability to rise 105.02% in just 52 weeks.
Notably, Jonas reiterated his $300 forecast rather than revising or assigned in on September 15. Indeed, the Morgan Stanley analyst has repeatedly shown his confidence in his estimate, including through the steep 53.54% decline between the $225.64 highs from mid-June and $104.83 lows in early August.
The timing of the latest confirmation is similarly notable, as SpaceX stock is, at press time on Tuesday morning, once again in a downtrend and is, at its press time price of $146.33, 4.65% below the September 8 closing high of $153.47.
Wall Street sets SpaceX stock price target for the next 12 months
Zooming out, Wall Street has been almost universally bullish about SPCX equity since September started. Out of the 12 notable analysts to issue a note in the last 15 days, 11 gave Elon Musk’s newer public company a ‘Buy’ rating.
Among the optimistic analysts, the highest 12-month price target came from Oppenheimer on September 12 – $280 – and the lowest – $212 – from Wells Fargo (NYSE: WFC) on September 8.
Meanwhile, MoffettNathanson was the singular outlier, with Julie Zhu coming out as ‘Neutral’ on SpaceX stock, forecasting it will trade at $142 in the next 52 weeks – essentially flat relative to press time.
Lastly, at press time on September 15, SPCX shares boast an overall ‘Moderate Buy’ rating and an average $232.07 price target for the next 12 months for a 59.94% estimated upside, per the data Finbold retrieved from the equity analysis platform TipRanks.
Still, the outlook could undergo a dramatic and rapid change as soon as next week, depending on how successful the pivotal Starship Flight 14 proves.
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