Space Exploration Technologies Corp’s shares advanced 3.5% in early trading to $145.62, extending gains from Tuesday’s close of $140.71, as analysts upgraded price targets on expectations for accelerated AI and satellite revenue growth.
Bernstein SocGen reiterated an Outperform rating and raised its price target to $248 from a prior estimate, citing SpaceX’s integration of AI infrastructure and GPU access via its partnership with NVIDIA. The bank projected SpaceX’s AI-related revenue could climb from an estimated $24.6 billion in 2026 to more than $115 billion by 2027, with total company revenue potentially reaching $150 billion in the same year.
Oppenheimer similarly upgraded its valuation, lifting its target to $280 from $250. The upgrades coincided with the company’s filing with the Federal Communications Commission, targeting September 15 for Starship Flight 14, its first fully orbital mission. The flight is designed to deploy new high-capacity Starlink V3 satellites, marking a step toward expanding the broadband constellation’s capacity and performance.
SpaceX’s Starship program remains central to its growth strategy, with the planned Louisiana spacebase intended to support more than 30 launches per day once operational. The vehicle’s upcoming mission follows 13 prior test flights, with Flight 14 positioned as a critical milestone for both orbital deployment capabilities and the integration of AI-driven satellite operations.
The broader market backdrop supported risk appetite, as the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite each advanced 0.6%, 0.7%, and 0.9%, respectively, in early trading.
