SpaceX stock gained 7.63 percent as Morgan Stanley kept its USD 300 target

Published on 10/06/2026 at 14:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Morgan Stanley retained an Overweight rating and a USD 300 target on October 5, while its growth-adjusted metric stood at 0.3 times. SpaceX reached a USD 2.3 trillion market capitalization.

SpaceX, US84615Q1031, Illustration mit AI erstellt.

SpaceX stock (ISIN US84615Q1031) gained 7.63 percent to USD 171.09 at the official Nasdaq close on October 5, 2026, while the company's market capitalization reached USD 2.3 trillion. The move followed Morgan Stanley's renewed Overweight rating and USD 300 price target, giving investors a direct valuation test for the newly listed space and artificial intelligence company.

Growth adjusted valuation drives target

According to Yahoo Finance on October 5, 2026, Morgan Stanley analyst Adam Jonas retained an Overweight rating and a USD 300 price target. Against the USD 171.09 close, that target is 75.1 percent above the share price.

The same Morgan Stanley analysis put SpaceX at 0.3 times estimated 2028 enterprise value to EBIT divided by growth, versus a 0.5-times median for its large-cap artificial intelligence comparison group. The 0.2-point gap supports the bank's argument that headline valuation and growth-adjusted valuation tell different stories.

Terafab adds a second growth leg

SpaceX's operating story extends beyond launches and Starlink. In an August 6, 2026 update, SpaceX said its Terafab project with Tesla is planned to exceed 100 million square feet of manufacturing space and employ at least 3,000 people.

The company also said the facility is intended to produce chips for Tesla vehicles and robots as well as high-power chips for SpaceX space-based data centers. That strategy gives the valuation case a second operating pillar, but it also shifts more of the investment debate toward execution in semiconductors and artificial intelligence.

Risk remains in Starship execution

Jonas identified slower Starship reusability, weaker enterprise AI monetization, higher compute costs, longer time-to-power, funding needs and regulatory delays as risks in the October 5 analysis. A successful Starship Flight 15, which the report placed in late October or early November, was described as a potentially important catalyst.

For perspective, the USD 171.09 close stood 24.2 percent below SpaceX's 52-week high of USD 225.64 and 63.2 percent above its 52-week low of USD 104.83. The range shows why the target depends on execution rather than valuation alone.