JPMorgan Raises SpaceX Price Target to $500 From $240, Keeps Overweight

JPMorgan raised its SpaceX share-price target to $500 from $240 and maintained an Overweight rating, alongside a forecast of about $254 billion in 2027 revenue.

The $500 target is about 20 times JPMorgan’s forecast 2028 GAAP earnings of $24.41 per share. The bank also more than doubled its estimates for 2027 and 2028.

SpaceX reported third-quarter revenue of $14.575 billion, up 161.39% from a year earlier. That quarterly result is separate from JPMorgan’s full-year 2027 revenue forecast.

SpaceX CEO Elon Musk has separately stated a goal of $500 billion to $1 trillion in annual recurring revenue (ARR) by the end of 2027. Musk’s 2027 ARR outlook is a different measure from JPMorgan’s revenue forecast.