SpaceX (NASDAQ: SPCX) received a massive upgrade from Phillip Securities on October 23, when analyst Glenn Thum upgraded the space company from “Sell” to “Buy” and increased his SpaceX stock price target from $75 to $250.
The new price forecast, which represents a 233% increase from the previous one, assumes that compute demand is running ahead of supply. The analyst also noted that SpaceX’s contracts are renewing at higher prices per watt, which should be another catalyst.
Thum also raised his fiscal 2026 revenue estimate by 56% to $45.1 billion and lifted his fiscal 2027 forecast by 201% to $132 billion. In addition, he expects the company’s new capacity to pay back in less than a year.
Following the upgrade, SPCX shares rose 2.13% in pre-market trading, where they sat at around $147.83 at the time of writing.
SpaceX stock forecast tripled at Phillip Securities; Other analysts bullish too
The previous $75 target was assigned in August, when Phillip Securities maintained a “Sell” due to revenue sustainability issues despite strong second-quarter 2026 results. Specifically, the firm highlighted a $542 million operating loss and capital expenditure of 2.4 times revenue.
It all changed this week, however, when SpaceX shares began climbing in the wake of extraordinary third-quarter results. Indeed, Elon Musk’s newly publicly traded company disclosed $14.58 billion instead of the anticipated $12.72 billion, seeing its sales double from $7.81 billion in Q2.
Naturally, Phillip Securities was not the only analyst firm to hike its SpaceX share price target. JPMorgan, for instance, more than doubled its own forecast from $240 to $500. What’s more, the bank doubled its 2027 revenue prediction to $254 billion.
Similarly, Bank of America (BofA) Securities raised its own price target on SpaceX from $235 to $275, maintaining a “Buy” rating on the stock. The firm likewise cited third quarter results and updated guidance for 2027.
Wall Street thinks SpaceX stock will rally 70% next year
Philip Securities’ new $250 SPCX price target matches the average forecast given by Wall Street over the past three months, and it implies the space exploration company can rally 72% over the next 12 months, citing TipRanks calculations.
The figure is the result of 35 analyst calls, of which 29 were definitive “Buys,” versus just five “Holds” and one “Sell.” As for the price predictions, the highest one currently sits at $500, while the lowest one is at $140.
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