As Space Exploration Technologies Corp. (NASDAQ: SPCX) stock surged over 18% this week, defying the fears from the 911.5 million share-unlock, Doug Anmuth, an analyst at JPMorgan Chase & Co. (NYSE: JPM), raised his 12-month target for SpaceX.
Anmuth reiterated a ‘Buy’ rating for SpaceX stock, according to a note to clients analyzed by Finbold on August 7. He further raised the bank’s 12-month price target for SPCX shares to $240 from $225, representing a rise of 6.7%.
With SpaceX shares trading at $128.50 on Friday, the analyst suggests a possible 86.8% upside. The ‘Overweight’ rating for SPCX follows its debut second quarter earnings report, which beat Wall Street analysts’ expectations.
Anmuth argued that the company continues to benefit from extreme vertical integration and the incredibly rapid pace of AI innovation. The bank also raised its SpaceX stock target since the company believes it can achieve an annual recurring revenue of $100 billion, above its 2027 consensus estimate of $75 billion.
The bank also based its higher target on the company’s 2030 revenue forecast of $1 trillion, which is a year earlier than expected. Furthermore, JPMorgan believes that SpaceX can pull forward its modeled AI revenue for 2028 of $100 billion to 2027 due to its higher compute capacity.
SpaceX stock forecast 2026
In addition to JPMorgan, SpaceX stock has received several Buy ratings from Wall Street analysts this week. As such, 31 analysts surveyed by TipRanks have set an average 12-month target of $229.54, signaling a potential 76% upside.
Notably, the highest 12-month SpaceX stock target is $800 while the lowest is $75 at press time.
SPCX price outlook
Following the company’s strong debut quarterly earnings report, SPCX shares have surged more than 18% over the past 5 days. As such, the company had a market capitalization of approximately $1.5 trillion at the time of publication.
With Elon Musk having turned bullish on SPCX stock, as Finbold reported, JPMorgan’s price target could be achieved.
