The latest Starship launch by Space Exploration Technologies Corp (NASDAQ:SPCX) could potentially boost its stock to $900, according to analysts at Citi.
A team of Citi analysts, led by John Godyn, believes that the successful 14th flight of Starship, the world's largest and most powerful rocket, is a "major" milestone that brings SpaceX shares a "step" closer to being valued at $900 or more, MarketWatch reported on Tuesday.
This would place the company's worth at roughly $12.2 trillion, more than double the current size of Nvidia (NASDAQ:NVDA), according to the analyst. SpaceX's current market capitalization stands at around $2 trillion.
Godyn emphasized that SpaceX's unmatched launch capabilities form the "foundational competitive advantage" that fuels all other aspects of its business. This is critical to the analyst's $900 long-term price target for SpaceX stock and his $200 year-end target.
The analyst projects that SpaceX will grow rapidly, reaching $484 billion in revenue and $360 billion in EBITDA by 2030.
Starship's Next Flight May Test Reuse
Despite an engine failure, SpaceX successfully sent Starship into orbit for the first time on Monday, deploying all 26 Starlink V3 satellites, marking a key step in its shift from test vehicle to operational launcher. Each V3 satellite offers about 1 terabit per second, or Tbps, of downlink capacity, so the batch could add roughly 26 Tbps to the Starlink network. SpaceX said a mature Starship could carry up to 60 V3 satellites per mission, adding more than 20 times the capacity of a Falcon 9 Starlink launch.
Gene Munster of Deepwater Asset Management also believes that SpaceX investors may be underestimating the impact of this successful week. He argued that the accelerating launch cadence could help SpaceX stock "more than double from here" if Starship scales towards thousands of annual missions.
The next Starship flight plan remains undecided but could attempt the first return-to-launchpad landing for the Super Heavy booster or Starship upper stage. BofA Securities analyst Ronald Epstein said such a landing would mark significant progress toward full Starship reusability.
Benzinga Edge Stock Rankings shows that SPCX has a stronger price trend over the short, medium, and long term. Benzinga's screener allows you to compare its performance with its peers.
Price Action: On a year-to-date basis, SPCX stock declined 7.21%, as per Benzinga Pro. On Wednesday, the stock climbed about 0.05% to $149.31.Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.