Morgan Stanley reiterated its Overweight rating on SPCX on Aug. 12, keeping a $300 price target and setting a $600 target in a bull-case scenario. Analyst Adam Jonas said the market is undervaluing SpaceX’s broader artificial intelligence platform, pointing to the company’s capabilities in computing, connectivity, and real-time data. He also said the upcoming Grok model could help narrow that valuation gap. In the same note, Jonas framed the approaching lockup expiration as an opportunity rather than a risk. In his view, that event could create a potential entry point for investors. The call keeps Morgan Stanley constructive on SPCX while tying the upside case to a reassessment of SpaceX’s AI-related assets and the possible effect of Grok on how the market values those capabilities.
Morgan Stanley keeps its Overweight call
According to BlockBeats, Morgan Stanley on Aug. 12 reiterated its Overweight rating on SPCX, with a $300 price target and a $600 target in a bull-case scenario.
Jonas points to broader AI platform value
Analyst Adam Jonas said the market is undervaluing SpaceX’s broader AI platform, including its computing, connectivity, and real-time data capabilities. He said the upcoming Grok model could help close that valuation gap.
Jonas also described the coming lockup expiration as an opportunity rather than a risk, saying it could offer investors a potential entry point.
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