After SpaceX’s Starship rocket successfully launched and deployed Starlink V3 satellites on September 28, the company received positive attention from Wall Street the next day. Several analyst firms issued or updated ratings, with many setting price targets well above the current stock price.
TD Cowen initiated coverage with a Buy rating and a $200 price target. CLSA set a $250 target, while Bernstein set a $248 target.
Analysts said the launch was an important step toward deploying the next generation of Starlink satellites, which is expected to increase network capacity and revenue potential. Some also cited the long-term opportunity to lease AI computing capacity as a potential growth driver.
Despite the milestone, SPCX shares declined slightly on September 28. Some commentators suggested investors may be underestimating the launch’s significance and focusing more on the company’s AI-related ventures.