Deutsche Bank sees 71% upside in SpaceX (Nasdaq:SPCX), pitching a Buy rating and a $255 price target (versus a market price of around $149.47).
Analyst Edison Yu frames the rocket manufacturer and satellite operator as foundational infrastructure spanning transportation, connectivity and AI, arguing SpaceX has achieved what governments have failed to deliver for decades: large rockets that are reliable, reusable and increasingly affordable, culminating in Starship.
The German bank's analyst singles out Starlink as a parallel success story, citing extreme first-principles engineering and vertical integration as the forces behind a connectivity network that now serves consumers, enterprises and governments worldwide, with the segment widely recognised as SpaceX's primary near-term cash generator.
Yu's note comes after SpaceX's $135-per-share IPO has drawn attention to the company's AI compute ambitions, including its AI1 satellite and solar-powered space data centres.
Elsewhere, Goldman Sachs had modelled revenue scaling from roughly $38 billion currently toward $474 billion by 2030, a trajectory that brokers broadly agree will require sustained capital raises, well beyond the $75 billion seen in the stock market float.
