Phillip double-upgrades SpaceX to Buy, triples price target to $250 on AI upside
P_Wei
- Space Exploration Technologies (SPCX) was double-upgraded to 'Buy' from 'Sell' at Phillip Securities as Super Intelligence swings the company into profit, according to a media report on Friday.
- Analyst Glenn Thum said he raised FY26 revenue by 56% to $45.1 billion and lifted FY27 by 201% to $132 billion on higher Super Intelligence revenue.
- The firm’s results were driven by Super Intelligence, “as new cloud services agreements came online at higher rental prices and Cursor added $608mn from mid-August,” Bloomberg reported.
- Connectivity was another driver, as “aviation installs and Starshield contracts lifted enterprise and government revenue 91% YoY.”
- The company's PT was more than tripled to $250 from $75; the new target implies a 73% increase from last close.
- SpaceX (SPCX) stock was up 2.7% premarket trading.
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