SpaceX Jumps 8%, Returning Elon Musk to $1.03 Trillion as Morgan Stanley Sees 75% Upside
Updated
Updated · CNBC · Oct 5
SpaceX Jumps 8%, Returning Elon Musk to $1.03 Trillion as Morgan Stanley Sees 75% Upside
3 articles · Updated · CNBC · Oct 5
Summary
SpaceX climbed nearly 8% Monday to $171.09, its highest since mid-June, lifting Elon Musk’s net worth back to $1.03 trillion, according to Forbes.
Morgan Stanley sparked the rally with a buy call, calling the stock cheap and setting a $300 target—about 75% above Monday’s close—on expectations for AI products, Starship progress and more neocloud contracts.
Analysts also pointed to near-term catalysts: SpaceX’s next Starship test flight, a possible upper-stage catch that would prove reusability, and third-quarter earnings due in late October.
The stock has rebounded about 58% since an early-August low after falling from its June 16 record close of $201.80, with momentum helped by multiple high-profile launches late last week.
Beyond launches, SpaceX is drawing support from AI and defense revenue, including more than $12.7 billion from Pentagon work to date and growing capacity rentals to companies such as Google and Anthropic.