SpaceX shares have gained fresh momentum after Raymond James initiated coverage with an $800 price target, implying about 440% upside from current levels. According to Raymond James, the brokerage has started coverage of SpaceX with a Strong Buy rating, making it one of the most optimistic forecasts issued by a major Wall Street firm. The target came as SPCX traded around the $153 level, following a difficult stretch in which the stock had fallen more than 25% from recent highs despite joining the Nasdaq-100.
Analyst Outlook
The brokerage linked its bullish outlook to three long-term businesses that it believes could support future growth, including the continued development of Starship, the expanding Starlink satellite internet network, and the company’s potential to become a major global infrastructure provider. Fresh optimism from Raymond James builds on a series of positive ratings issued by other investment banks in recent days, including Morgan Stanley, Goldman Sachs, and Citigroup.
Recent Developments
Operational developments have also remained active, with SpaceX filing an application with the U.S. Federal Communications Commission seeking approval to deploy as many as 100,000 third-generation Starlink satellites. The company has also maintained a rapid launch schedule, deploying 1,589 Starlink satellites during the first half of 2026.
Cryptocurrency Connection
SpaceX recently drew attention in the cryptocurrency market, with a wallet linked to the company transferring $88 worth of Bitcoin on July 8, ending six months without on-chain activity. Data from Arkham Intelligence showed SpaceX still holds about 18,712 BTC, valued at roughly $1.16 billion.
Based on reporting from crypto.news.
