SpaceX shares rose more than 5% in mid-morning trading in New York, breaking above the trading range that had contained the stock since mid-August. Shares climbed past the $160 level to $167.
Morgan Stanley analyst Adam Jonas wrote that SpaceX shares at these levels offer an inexpensive way to gain exposure to the space and artificial intelligence economy when adjusted for projected earnings growth.
"We expect developments over the next few months will help investors better appreciate the role of SPCX in addressing the critical bottlenecks of power and chip making, potentially unlocking earnings growth and multiple expansion for the stock," Jonas wrote in a note to clients.
Jonas pointed out that, at $159 per share when the note was written, Elon Musk's company looks expensive. But when adjusted for year-over-year growth, "SpaceX trades at just ~0.3x 2028e EV/EBIT/Growth, ~40% below the ~0.5x mega cap median."
He said that ahead of the next Starship launch, traders can take advantage of the "unique opportunity" to gain exposure to shares that, while "expensive on any trailing metric, look unusually cheap on the forward."
Jonas believes that the combination of AI chatbot releases, Starship test launches toward commercialization and high-priced neocloud deals could push the stock closer to $300.
Shares are up more than 5% on Monday morning but remain well below the $225 high reached following a blockbuster IPO in mid-June. At $167, shares are well above the $135 IPO price.
"View Starship test flight 14 as a success, marking the transition from design/test to production-grade & scale. See accelerating pace of Starship deployment, with 2-3 addt'l launches by YE26, reusability of booster in NTM & Ship catch by early '28," Wells Fargo analyst Ken Gawrelski wrote in a note.
Starship deploying Starlink V3 satellites https://t.co/TG7b8iHYkY
— Elon Musk (@elonmusk) October 3, 2026According to Bloomberg data, 36 analysts have a "Bull" rating on the stock, while seven have "Neutral" ratings and four have "Sell" ratings. The average 12-month price target among the analysts is around $217.
When can locked-up shareholders sell?
Here's the schedule:
Looking ahead, SpaceX is targeting the Starship Flight 15 test for no earlier than October 19, or about two weeks from now.
Tyler Durden Mon, 10/05/2026 - 15:40Residents of Gosport, the Royal Navy harbor town across the water from Portsmouth, spent Sunday under police orders that let officers direct people to leave town, as a migrant boat from France made its way toward their coastline.
The migrants were brought into Gosport onboard an RNLI boat (AOL)Hampshire and Isle of Wight Constabulary imposed a Section 34 dispersal order covering the entire town under the Anti-Social Behaviour, Crime and Policing Act 2014, running until 7am Tuesday. It lets officers order people to leave an area and not return, and refusing is a criminal offense. Police stacked several more restrictions on top:
The boat left Normandy, near Utah Beach, on Sunday morning. Late Sunday evening, two RNLI lifeboats brought 149 people ashore in Gosport, who were then put on coaches to Kent for processing, health, security and biometric checks. It was the third crossing headed for the western Channel coast in a month, a route that had been rare in recent years.
EXCLUSIVE VIDEO of boats arriving. I can not believe the British Government have allowed a boat of illegal migrants to dock in the Home of the Royal Navy here in Portsmouth Harbour, Gosport.
This makes me feel physically sick. They wonder why local people are angry. This is why
Not far right thugs. Normal local families and people horrified at what they are witnessing. When will this end?
Two weeks ago, a boat carrying around 50 migrants was rerouted to Dover after locals protested.
On Sunday, around 350 demonstrators turned out anyway, according to the Portsmouth News, with reports of flares and scuffles with police. By Monday, 12 people had been arrested, for offenses including assaulting a police officer. Six people were arrested at a similar protest last month.
Footage posted overnight shows the lifeboats coming in after dark, and the police escort that then moved the coaches out of town.
Holy. Shit.
Drone footage from the UK tonight…
The UK government is using the cover of darkness to continue importing foreign men. They will all live off British taxpayers. Before long, they will all have multiple children.
It’s being done on purpose.
HONESTLY look at this video. The resources gone in to bringing in, protecting and securing illegal migrants is astonishing. They have a bigger security motorcade than Trump would have on a visit.
This is shocking. In Gosport, Portsmouth Harbour.
The lengths the police and government are going to to facilitate this “INVASION” amazes me! 😳
Gosport 🏴
Police block off the road to allow the migrant coaches to get away last night so no one can follow them and document etc ..what is going on! @GBNEWS @TRobinsonNewEra
Tensions on this stretch of coast have been building for weeks. On Sept. 22, Hayling Island native Daniel Thomas, an anti-migrant activist known online as "Danny Tommo" whom Breitbart describes as a Tommy Robinson ally, allegedly slashed a migrant boat in the Channel with an emergency responder on board. The 37-year-old has pleaded not guilty to criminal damage and to refusing to give police his phone PIN, and a judge at Portsmouth Crown Court denied him bail on Sept. 29. His trial is provisionally set for March 2027.
The local Conservative MP, Caroline Dinenage, wants the boats sent elsewhere. "Gosport is not a safe or suitable location to disembark small boats," she said, arguing that any small boat intercepted in the Channel should be taken directly to Dover by water, as the Home Office did two weeks ago.
George Madgwick, who leads Reform UK on Hampshire County Council, put it more bluntly: "It's heart-breaking because Portsmouth Harbour is the home of the Royal Navy... Britain is Broken."
Then there is the bill. Hampshire's Police and Crime Commissioner, Donna Jones, says every one of these landings now comes with a price tag for local taxpayers:
"On each one of the protests that are happening every time we have one of these threats of a small boat landing, it is costing me £150,000 of taxpayers' money from my police budget, which I can ill afford to spend."In a video message, Jones called on the Home Secretary to make sure Border Force has vessels big enough to transfer people off the dinghies at sea and take them to Dover for processing.
On Monday, a government spokesperson said: "We have established contingency plans to make sure we can securely disembark, check and process all small boat arrivals."
Tyler Durden Mon, 10/05/2026 - 15:20