Bernstein Reaffirms Bullish Rating and $248 Target on SpaceX, Citing Starlink Growth

Bernstein SocGen Group reiterated its bullish stance on SpaceX (NASDAQ: SPCX), maintaining a 12-month price target of $248 per share, implying around 70% upside from its $146 market price. Analyst Douglas Harned cited long-term growth in Starlink's broadband operations, projecting subscribers will reach approximately 168 million and generate roughly $64 billion in consumer and SMB revenue by 2031. Following an accelerated rollout, Bernstein raised its fiscal 2027 diluted EPS forecast to $1.37 from $1.30 and narrowed its fiscal 2026 diluted EPS loss estimate to $0.19 from $0.20.