Morgan Stanley Reaffirms SpaceX Buy Rating With $300 Target on Deepening Tesla AI Ties

Morgan Stanley has maintained a 'Buy' and 'Overweight' rating on SpaceX (SPCX) with a 12-month price target of $300, pointing to an approximate 94.36% upside from pre-market levels of $154.35. Analyst Adam Jonas highlighted expanding operational and physical AI synergies with Tesla, supported by integrated orbital computing and ground systems. SpaceX currently holds an estimated $2 trillion market valuation after gaining 13.12% post-IPO. The partnership includes the over $119 billion joint Terafab facility in Texas, along with multi-gigawatt compute sharing and Starlink integration for Tesla fleets.