Bernstein Sets $239 Target for SpaceX, Citing Starship as Key Valuation Driver

Bernstein analysts maintain a buy rating with a $239 price target, emphasizing Starship's role in justifying valuation while highlighting semiconductor and regulatory hurdles.

Woofun AI reports that Bernstein identified Starship as the primary factor validating SpaceX's valuation in a client report issued on Friday. The firm outlined three additional critical challenges: semiconductor availability, Federal Aviation Administration approval processes for each launch, and the need to expand computing power within resource constraints as the company builds orbital data centers. Following its February merger with xAI, SpaceX aims to lead in AI, requiring significant processor integration into data center satellites. Despite these operational complexities, analysts recommend buying the stock ahead of Tuesday's earnings, setting a price target of $239. They noted that management's confidence in the growth trajectory outweighs quarterly results.