SpaceX (SPCX) made its historic debut on Nasdaq this morning, with shares opening at an exciting $150 – a more than 10% premium on the company’s initial public offering (IPO) price.
At current levels, the artificial intelligence (AI) and space infrastructure firm is valued at just under $2 trillion, which makes it the sixth-most valuable US company, and its founder, Elon Musk, the world’s first trillionaire.
And while the massive valuation has sparked intense debate among experts, Wolfe Research insists SpaceX stock still has plenty of juice left, projecting substantial upside ahead.
Why Wolfe sees significant further upside in SpaceX stock
Wolfe initiated coverage on SPCX shares on Friday with an “Outperform” rating and a bold $175 price target, representing another 17% upside from current levels.
Analyst Myles Walton grounded this bullish outlook in SpaceX’s unprecedented dominance over the global launch infrastructure, effectively giving the enterprise an ironclad monopoly.
Pointing to data showing SPCX commands five out of every six domestic launches, he pointedly asked clients if there could be a more lucrative economic moat than possessing a near-monopoly on escaping Earth’s gravity.
The research firm emphasizes that the successful execution of Starship’s reusability is the ultimate catalyst that will unlock unparalleled cost efficiencies – driving down unit economics and leaving capital-intensive aerospace rivals stranded on the launchpad.
Why SPCX shares are poised for continued gains ahead
The sheer brilliance of SpaceX’s core launch business lies in how it subsidizes and fuels its highly ambitious, next-generation growth initiatives.
Beyond traditional orbital delivery, SpaceX is uniquely positioned to exploit its cost advantages to scale its hyper-profitable Starlink satellite internet division and aggressively expand its network.
Musk’s grand post-IPO roadmap features plans to deploy over 100,000 communication satellites and construct revolutionary AI data centers directly in orbit.
Following its strategic merger with xAI in early 2026, which integrated the Grok AI model and the X social platform, SpaceX is building a verticalized architecture.
Wolfe notes that while tech rivals like OpenAI and Anthropic may lead in raw algorithmic models, SpaceX holds the ultimate trump card: structural computing cost-dominance achieved through unparalleled direct access to space.
What’s the Wall Street consensus on SpaceX
While skeptics point to the company’s accumulated deficit of $41.3 billion since its 2002 inception, institutional sentiment surrounding SPCX stock remains fiercely optimistic.
Alongside Wolfe’s bullish forecast, Oppenheimer initiated a Buy rating with an even more bullish $190 target, and New Street Research set a $165 price target, cementing a consensus that SpaceX is entering an unprecedented hyper-growth phase.
All in all, the fresh $75 billion capital injection provides a formidable war chest, reinforcing that Space Exploration Technologies Corp is no longer just a rocket manufacturer, but an elite, multi-planetary computing and infrastructure powerhouse.
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