Bernstein Report Highlights SpaceX's Strategic Shift Toward Infrastructure

Bernstein issued a report on SpaceX, maintaining an 'outperform' rating with a $248 price target, citing six major developments including the new Louisiana Starship base, advancements in launch recovery, and the expansion of Starlink aviation services. The report emphasizes that SpaceX's valuation hinges on achieving high-frequency, reusable orbital launch capabilities by 2028. Key initiatives include a massive new Starship hub in Louisiana, internal production of industrial gas turbine blades, the acquisition of Cursor to bolster AI capabilities, and the d