Morgan Stanley Sees SpaceX Stock Hitting $300 as AI Forecasts Explode
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Morgan Stanley Sees SpaceX Stock Hitting $300 as AI Forecasts Explode Nauman Khan Thu, November 5, 2026 at 7:01 AM EST 1 min read MS +1.65% SPCX -1.47% TSLA -1.66% This article first appeared on GuruFocus . Morgan Stanley has reiterated its SpaceX ( NASDAQ:SPCX ) price target to $300 per share, citing higher expectations for revenue from artificial intelligence, satellite connectivity and launch services, while outlining potential business links with Tesla ( NASDAQ:TSLA ). Analyst Adam Jonas raised the firm's revenue estimates to $175 billion for 2027 and $289 billion for 2028, increases of 93% and 84%, respectively, from previous projections. The bank also lifted its 2028 operating income forecast by 72% to $119 billion. Warning! GuruFocus has detected 3 Warning Sign with SPCX. Is SPCX fairly valued? Test your thesis with our free DCF calculator. The revised valuation assigns $165 per share to SpaceX's enterprise AI business and $118 to its connectivity operations, including Starlink. Morgan Stanley now expects the company to generate positive free cash flow in 2031, four years earlier than its previous estimate. Its projected cumulative external borrowing was also reduced to $390 billion. The outlook reflects potential growth in satellite services, rocket launches and AI infrastructure, alongside upcoming Starship flight tests aimed at achieving full reusability. Jonas also sees Tesla and SpaceX as complementary businesses, with Tesla developing robotics and autonomous vehicles while SpaceX contributes connectivity and orbital computing capabilities.
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