SpaceX shares gained new momentum after Raymond James initiated coverage with a price target of $800, implying an upside of approximately 440% from current levels.
summary
- Raymond James launched SpaceX with a Strong Buy rating and a price target of $800, implying an upside of approximately 440%.
- Wall Street support strengthened as Morgan Stanley, Goldman Sachs, Citigroup, UBS and Wells Fargo also issued bullish ratings.
- SpaceX expanded its Starlink plans, Ark Invest added shares, and the company’s Bitcoin holdings remained in focus.
According to Raymond James, the brokerage firm initiated coverage of SpaceX with a strong buy rating and an $800 price target, making it one of the most optimistic forecasts issued by a major Wall Street firm.
The target came as SPCX traded around the $153 level on Thursday after rising about 3.2%, following a tough stretch in which the stock fell more than 25% from its recent highs despite joining the Nasdaq 100, as was the case previously. I mentioned Powered by crypto.news.
The brokerage linked its bullish outlook to three long-term businesses that it believes can support future growth. Raymond James noted Starship’s continued development, Starlink’s expanding satellite Internet network, and the company’s potential to become a major global infrastructure provider through launches and communications.
Wall Street’s support for SpaceX continues to grow
The new optimism of Raymond James depends on A series of positive reviews were released by other investment banks in recent days. Morgan Stanley initiated coverage with an overweight rating, setting a base case price target of $300 and a bullish case target of $600.
Goldman Sachs also initiated coverage with a buy rating and a $205 target, while Citigroup initiated coverage with a buy recommendation and a 12-month target of $200. UBS and Wells Fargo also initiated coverage with positive recommendations, adding to institutional support for the newly listed company.
Although Raymond James’ forecasts are well above those targets, the latest recommendation has added to expectations that analysts still see significant upside even after the recent volatility in SpaceX stock prices.
Separately, Cathie Wood’s Ark Invest continued to increase its exposure to SpaceX. According to reports, the investment firm purchased 153,084 shares via its ARKK, ARKQ and ARKX exchange-traded funds. Based on SpaceX’s closing price of $148.30, the purchase was worth approximately $22.7 million.
Starlink’s expansion and Bitcoin holdings remain a focus
Operational developments also remained active. SpaceX has filed an application with the US Federal Communications Commission for approval to deploy up to 100,000 third-generation Starlink satellites, a move that would significantly expand satellite internet if approved.
The company has also maintained an accelerated launch schedule. Reports show that SpaceX deployed 1,589 Starlink satellites during the first half of 2026, surpassing the previous first-half record of 1,489 launches achieved in 2025.
Aside from its space business, SpaceX has recently drawn attention in the cryptocurrency market. Such as crypto.news I mentionedA wallet linked to the company transferred $88 worth of Bitcoin on July 8, ending six months without on-chain activity.
Data from Arkham Intelligence showed that SpaceX still holds about 18,712 bitcoins, worth approximately $1.16 billion, while the recipient wallet contains 614 bitcoins worth about $38 million.
Investors are also tracking developments related to Elon Musk’s AI ecosystem following the SpaceXAI unveiling Plans to release Grok 4.5 for public.
Despite a growing list of analysts’ optimistic calls, some investors remain cautious. Critics argue that SpaceX’s valuation is already pricing in much of its expected expansion, while others say the company’s first public earnings report will provide a clearer basis for evaluating whether current expectations can be justified.
