Morgan Stanley Sets $300 Price Target for SpaceX Shares

Space Exploration Technologies Corp. shares could more than double in value, according to a report from Morgan Stanley analysts who set a $300 price target and maintained an overweight rating for the company. The investment bank argues that the company's future valuation will be driven primarily by its artificial intelligence ventures rather than its traditional aerospace business.

This bullish outlook follows the announcement of a $60 billion stock acquisition of Cursor, an AI coding tool maker used by more than 60% of Fortune 500 companies. Cursor reported over $1 billion in annualized revenue in November 2025. The deal, which is expected to close within a few weeks, follows a merger between SpaceX and xAI earlier this year.

Morgan Stanley served as the lead underwriter for the SpaceX initial public offering on June 12, which valued the company at $2 trillion. Analysts suggest the market has not yet fully priced in the potential integration of Cursor and Grok, which they believe will serve as a catalyst for substantial stock appreciation.