Citi and JPMorgan Lift SpaceX Targets Following Blowout First Public Profit

Major Wall Street brokerages have sharply raised their outlooks on SpaceX following its first profitable quarter as a public company. Citigroup opened a positive 90-day Catalyst Watch and lifted its price target to $240, while JPMorgan Chase more than doubled its target from $240 to $500 with an Outperform rating. The revisions follow third-quarter results showing $4.4 billion in net income and $14.6 billion in revenue, beating expectations by nearly $1.7 billion. SpaceX also forecast first-quarter 2027 revenue of $33 billion to $37 billion and targeted 10 gigawatts of AI compute capacity by late 2027.