Space Exploration Technologies Corp. (SPCX) shares rose significantly in premarket trading on October 9, 2026. The move followed Barclays’ initiation of coverage with an Overweight rating and a $254 price target.
Barclays described the U.S. aerospace and defense sector as being in the “early innings of a modern-day industrial revolution” and highlighted SpaceX’s dominant market position. The bank cited Starlink satellite internet service and reusable rocket technology as competitive advantages that could drive substantial future growth.
Investor attention has also focused on SpaceX’s potential $40 billion debt financing plan to expand its artificial intelligence data centers. The company has recently reached agreements to acquire additional wireless spectrum to enhance its direct-to-device services.
The share-price rise followed several days of losses, potentially signaling a reversal.