Morgan Stanley Sets SpaceX Target at $300, Citing Undervalued AI Computing

According to a Morgan Stanley report from September 15, 2026, SpaceX maintains an overweight rating with a target price of $300, representing a 102.5% upside from its current price of $148.15. The valuation is driven by AI computing ($165), satellite broadband ($118), rocket launches ($8), and X/Grok ($8). The firm notes that the market has yet to fully price in the AI computing business, which is expected to benefit from vertical integration. The operational debut of Starship in Q4 2026 is identified as a critical milestone for the company's growth.