PhillipCapital double-upgrades SpaceX to buy, triples price target to $250
Per PhillipCapital's Glenn Thum: SpaceX's AI and Starshield growth justify a sell-to-buy jump and a $75-to-$250 target.
what happened
PhillipCapital analyst Glenn Thum raised SpaceX (Nasdaq: SPCX) from sell to buy on October 23, lifting his price target from $75 to $250, implying roughly 70% upside, per The Motley Fool. Thum cited SpaceX's third-quarter results, including $7.6 billion in "Super Intelligence" cloud-compute revenue versus $813 million a year earlier, enterprise and government revenue up 91% year-over-year from aviation installs and Starshield contracts, and the company's first-ever quarterly profit as a public company, per Asianet Newsable.
why it matters
The double upgrade, skipping over a hold rating, is one of the sharpest sell-side reversals yet on SpaceX's pivot from a launch and connectivity company to an AI-compute platform, a thesis rivals bidding for cloud and satellite-connectivity contracts will now have to weigh, tempered by Thum's own caution that 2027 revenue could lag if power and cooling capacity can't scale fast enough.
signal-to-noise
quick facts
- Companies
- SpaceX
- Category
- financial
- Impact
- notable
- SNR
- 4 / 5
- Event date
- 2026-10-24
- Published
- 2026-10-24 21:23 UTC