JPMorgan analyst Doug Anmuth raised his SpaceX price target to $500 from $240 and kept an Overweight rating after the company’s third-quarter results, according to the excerpt. The target is a forecast, not a measured result, and Anmuth said SpaceX still needs to build out computing capacity, raise substantial capital and sustain strong demand.
JPMorgan projects 10 gigawatts of compute capacity and $254 billion in revenue for 2027, with an annualized revenue run rate of about $400 billion by year-end. That run rate is below management’s target range of $500 billion to $1 trillion. Anmuth also cited comments from Elon Musk about committees discussing a possible SpaceX-Tesla merger; any deal would need shareholder approval and could face regulatory scrutiny.
