SpaceX stock rose 5% on Wednesday as the company executed a fresh Starlink launch and Morgan Stanley reiterated its $300 price target, signaling continued analyst confidence in the satellite internet operator’s growth trajectory.
SPCX climbed to around $144 midday August 12, 2026, buoyed by the successful deployment of 24 Starlink satellites from Vandenberg Space Force Base in California, according to reporting from 247 Wall Street. The launch marked the second of a two-mission day for SpaceX, underscoring the company’s operational tempo as it expands its constellation.
Morgan Stanley analyst Adam Jonas maintains his base-case target of $300 per share, a level that implies roughly 107% upside from current trading levels. The firm also outlined a bull-case scenario valuing SpaceX at $8 trillion, with a $600 price target, according to reporting from The Globe and Mail dated August 11. Jonas has argued that many investors underestimate the company’s potential, particularly as it scales Starlink, develops orbital compute capabilities, and integrates its recent acquisition of Cursor, an AI software platform.
The stock’s resilience reflects growing confidence in SpaceX’s core business. In its first earnings report as a public company on August 4, SpaceX reported Q2 revenue of $7.8 billion, up 92% year-over-year. Starlink, the company’s connectivity division, posted revenue of $4.29 billion, a 66% increase, according to Reuters. The satellite internet service now serves over 12 million subscribers and has become the primary driver of profitability.
Recent analyst action has reinforced the bullish narrative. Argus Research upgraded SpaceX to Buy from Hold on August 7, setting a $160 price target and citing the company’s rapid payback on AI investments and strong operational execution. That upgrade triggered a 15.8% single-day rally, closing at $133.11.
SpaceX’s path to profitability hinges on Starlink’s ability to scale globally and on its emerging AI and orbital compute businesses. Jonas has noted that the $600 bull case assumes faster execution across Starship, orbital compute, and Terafab, with AI representing more than 60% of valuation upside. The company’s acquisition of Cursor for $60 billion in June signals Elon Musk’s commitment to building an AI infrastructure play alongside the connectivity and launch services that have historically defined SpaceX.
Starlink deployments remain critical to the investment thesis. Each successful mission adds to the constellation and demonstrates operational reliability, a factor that influences both institutional confidence and the regulatory environment for future launches. The August 12 launch from Vandenberg continues a cadence that SpaceX has maintained throughout 2026, with dozens of Starlink missions already completed this year.
Sources
- 247 Wall Street — SPCX stock movement and Starlink launch on August 12, 2026
- The Globe and Mail — Morgan Stanley’s $300 base case and $600 bull case, Adam Jonas analysis
- Reuters — SpaceX Q2 revenue, Starlink revenue growth of 66% year-over-year
- Space.com — Starlink 17-49 mission details, 24 satellites launched from Vandenberg on August 12
- Argus Research / Street Insider — Argus upgrade to Buy with $160 price target on August 7
- Investing.com — Morgan Stanley maintenance of $300 price target as of August 11
