Image Source: Yahoo Finance
SPCX stock price continued climbing on Tuesday, October 6, 2026, extending a powerful rally that began after Morgan Stanley analyst Adam Jonas renewed his bullish view of SpaceX. The shares gained another 0.49% during Tuesday’s session, closing at $171.92 and reaching another multimonth high.
The move followed a jump of more than 7% on Monday. Investor attention has intensified after Jonas published a note titled “SPCX $159: Cheap and Getting Cheaper,” in which he reiterated an Outperform rating and maintained a $300 price target.
SPCX Stock Price Reaches a Powerful New Milestone
Tuesday’s advance pushed SpaceX shares to levels not seen since June, according to Yahoo Finance. While the daily gain was modest compared with Monday’s surge, the continued strength suggests that traders are closely watching the company’s upcoming operational milestones.
Jonas said investors may have only a few weeks to take advantage of what he considers an unusually attractive buying opportunity. His view is tied in part to the expected progress of Starship, SpaceX’s large-scale launch system, ahead of Starship Flight 15.
“We think that over the next few weeks, ahead of Starship Flight 15, investors can take advantage of a unique opportunity to buy shares that look unusually cheap,” Jonas wrote.
Why Morgan Stanley Sees Explosive Upside
The Morgan Stanley thesis goes beyond SpaceX’s launch business. Jonas believes the company’s valuation could benefit from several divisions and growth initiatives, including:
- Space and connectivity operations
- Starlink’s satellite communications business
- Launch services and Starship development
- Artificial intelligence compute opportunities
- Chipmaking and other AI-related projects
- Neocloud contracts and high-value infrastructure services
Jonas argued that many investors may be valuing SpaceX primarily through its space and connectivity operations. In his view, that approach may overlook the potential contribution of AI compute deals, chip development, and other technology businesses.
He also pointed to pricing of approximately $30 to $50 per watt in neocloud contracts as a possible upside catalyst. If those contracts continue at similar levels, they could help support revenue growth and encourage investors to assign a higher valuation multiple to the company.
Starship Flight 14 Builds Investor Confidence
SpaceX recently completed a successful test during Flight 14. The mission reportedly marked the first time Starship reached low Earth orbit and deployed Starlink satellites, giving investors another reason to focus on the company’s launch ambitions.
The upcoming Flight 15 is now a major event for the SPCX stock price narrative. A successful mission could strengthen confidence in SpaceX’s engineering progress, while delays or technical problems could create renewed volatility.
Jonas noted that the company’s engineering challenges are difficult for many investors to assess. He specifically highlighted the complexity of Starship’s heat shield and the full-flow staged combustion rocket engine. These technical factors make the stock difficult to evaluate using traditional business metrics alone.
AI and Space Connectivity Could Transform Valuation
The strongest part of the bullish argument is the possibility that SpaceX becomes more than a launch and satellite communications company. Jonas believes future AI product releases and additional compute agreements could unlock earnings growth and support multiple expansion.
That outlook places SpaceX within several fast-growing investment themes at once: commercial space, broadband connectivity, artificial intelligence infrastructure, advanced chips, and cloud computing. Investors who believe these businesses can scale may view the current SPCX stock price as a discount to its long-term potential.
However, the valuation case remains dependent on execution. SpaceX must continue making progress with Starship, expand its technology operations, and demonstrate that AI-related businesses can generate meaningful commercial returns.
What Investors Should Watch Next
Market participants will likely focus on the Starship Flight 15 schedule, future AI announcements, new neocloud contracts, and evidence of sustained pricing power. Each development could influence sentiment around SpaceX stock.
Jonas’s $300 target implies significant upside from the $171.92 closing price reported Tuesday. Still, the target represents an analyst forecast rather than a guarantee. SpaceX shares remain exposed to technical setbacks, valuation concerns, market volatility, and uncertainty surrounding private-market trading.
For now, the SPCX stock price is benefiting from renewed confidence in SpaceX’s long-term strategy. The next few weeks could prove especially important as investors decide whether the rally reflects temporary enthusiasm or the beginning of a broader revaluation.
Frequently Asked Questions
What was the SPCX stock price on October 6, 2026?
SpaceX shares closed at $171.92 on Tuesday, October 6, 2026, gaining 0.49% during the session.
Why did the SPCX stock price rise?
The rally followed bullish commentary from Morgan Stanley analyst Adam Jonas, who cited upcoming Starship milestones, AI opportunities, and neocloud contracts.
What is Morgan Stanley’s SpaceX price target?
Adam Jonas maintained an Outperform rating and a $300 price target for SpaceX shares.
What is the next major SpaceX catalyst?
Investors are watching Starship Flight 15, along with potential announcements involving AI compute, chipmaking, and cloud infrastructure.
Is the SPCX stock price guaranteed to reach $300?
No. The $300 figure is an analyst estimate. Actual performance could be affected by execution, technical results, market conditions, and valuation changes.
