Evercore ISI Lifts SpaceX Price Target to $275 Ahead of Q3 Results

Evercore ISI has raised its price target on SpaceX to $275 from $230 while reiterating an Outperform rating ahead of third-quarter financial results. The revised target implies approximately 85% upside from recent closing levels. Analyst Kutgun Maral highlighted key debates before the October 20 report, focusing on long-term growth drivers including compute capacity, artificial intelligence, and satellite connectivity. Evercore ISI projects SpaceX will exit 2026 with an annualized revenue run rate of approximately $104 billion and reaches 2.3 gigawatts of compute capacity, with 2027 capital expenditures estimated at roughly $151 billion.