Bank of America maintains the target price of SpaceX 235

On 7 August, the United States Bank reiterated its “buy-in” rating after SpaceX, maintaining a target price of $235, about 87.5 per cent higher than the reference price of $125.33. The Bank of America believes that its multi-logic logic is no longer based primarily on rocket-launching operations, but on AI infrastructure operations. Bank of the United States predicts that in 2026 SpaceX AI will close to $24.5 billion, or more than half of the total company revenue forecast. Meanwhile, cooperation with Anthropic has been contributing to revenue since May this year, and it is expected to start with Google in October this year. As a result, the Bank of the United States has revised performance projections upwards for the coming years: expected increases of 15 per cent to $46.9 billion in 2026; expected increases of 29 per cent to $10.7 billion in 2027; and expected increases of 29 per cent to $18.8 billion in 2028. However, the Bank of the United States also expects that, as capital spending continues to expand, SpaceX will continue to maintain large-scale free cash flows negative in the coming years. Its projections are: free cash flows of $43.6 billion in 2026; $45.4 billion in 2027; and $37.4 billion in 2028. (The Street)