SpaceX Stock Outlook Turns Bullish: Argus Says Buy & Morgan Stanley Targets $300

The SpaceX stock price target picture on Wall Street shifted fast this week, and it shifted for the better. Argus Research upgraded SPCX stock to a Buy from a Hold and put a $160 price target on it, and Morgan Stanley kept its own $300 SpaceX stock price target exactly where it was too. Shares jumped 15.8% on Friday to close at $133.11, and the wider SpaceX stock forecast from several firms is now pointing higher, largely as a result of a second quarter that beat expectations on both revenue and earnings.

Also Read: How to Buy SpaceX Stock as Wall Street Backs the Post-Earnings Dip

SpaceX Stock Price Target Gains Momentum As Wall Street Turns Bullish

Argus Upgrades SPCX Stock To Buy

According to a post from market commentator Walter Bloomberg on X, Argus Research moved SpaceX from Hold to Buy on August 7, and also set that $160 SpaceX stock price target as part of the same call. The move came right after SpaceX’s second quarter numbers landed, showing $7.8 billion in revenue, up 92% year over year, and a per share loss of just $0.09, both better than what analysts had penciled in. Argus analyst Steven Silver, in a note to clients, also addressed the elephant in the room, which is the $18.4 billion the company spent in the quarter, most of it going toward AI infrastructure.

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