Amidst SpaceX (NASDAQ: SPCX) stock price recovery and the approaching Cursor acquisition, Morgan Stanley’s (NYSE: MS) Adam Jonas reiterated his highly bullish assessment of the company.
Specifically, the Wall Street analyst rated SPCX equity as a ‘Buy,’ while forecasting a 116.23% 12-month rally to $300. Furthermore, Jonas also outlined a SpaceX stock ‘bull case’ at $600 per share, seemingly contingent on Cursor turning from a ‘harness’ and into a ‘frontier’ model.
Additionally, Morgan Stanley explained it sees Cursor’s annualized run rate (ARR) reaching $8 billion by the end of the year and up to $33 billion by 2030. ARR is a somewhat dubious metric as it grants companies significant discretion in choosing a period – usually a month – they will use to calculate the total.
Notably, as bullish as Adam Jonas’ SpaceX stock price prediction is, it is noteworthy that it effectively predicts Elon Musk’s newer public company will boast a market capitalization just short of $4 trillion – between the valuation of Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOGL) at the latest close.
While the figure is not impossible, the social media, rocket, internet, and artificial intelligence (AI) company recorded $7.81 billion in earnings in the second quarter (Q2), while the two established technology giants saw $90 billion and $120 billion in the comparable period.
Analysts predict SpaceX stock price in the next 12 months
Elsewhere, Morgan Stanley’s latest assessment of SpaceX is only slightly more bullish than the Wall Street average. Indeed, institutional analysts view SPCX stock as a ‘Moderate Buy’ overall, with two ‘Sell,’ five ‘Hold,’ and twenty-four positive recommendations.
Furthermore, the average SpaceX share price target for the next 12 months stands at $231.15, meaning the equity is expected to rise 66.61% within the timeframe, per the data Finbold retrieved from TipRanks on August 11, 2026.
SpaceX stock soars 30% from SPCX all-time low
Lastly, though SPCX remains 38.51% below the $225.64 all-time high achieved only four days after the initial public offering (IPO), it saw a 32.35% rally from its all-time low of $104.83.
At its latest closing price of $138.74, SpaceX stock is slightly above the $135 IPO ask, having rallied 18.47% within the last week of trading.
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