Pivotal Research Raises SpaceX Price Target to $230 on Starlink Expansion

Pivotal Research increased its 12-month price target on SpaceX to $230 from $220, maintaining a Buy rating and implying 39.99% upside from its $164.30 trading price. Analyst Jeffrey Wlodarczak cited SpaceX's deal to acquire a nationwide low-band spectrum license portfolio, positioning Starlink to operate as a major mobile carrier. Wlodarczak estimates Starlink could capture 160 million global subscribers by 2036, constructing its mobile network for about $10 billion compared to the $50 billion to $100 billion required by traditional carriers. Meanwhile, broader Wall Street consensus sits at Moderate Buy with an average $216 price target.