Morgan Stanley: Maintaining SpaceX plus rating and $300 target price

Morgan Stanley, in his latest study, noted that, despite the failure of the SpaceX 13 pilot mid-flight booster to achieve a perfect recovery, the mission had significantly boosted market confidence. The Bank emphasized that the successful pilot flight completed key validation objectives such as the deployment of the new generation of satellite V3 satellite, the re-launching of the in-orbit engine and the smoothest sea splatter to date, marking an important step towards a fully reusable starship system. Morgan Stanley believes that if the 14th test flight of the Starship were to achieve the direct capture of the launch tower from the ship ' s superiors, it would be the next key catalyst to drive SpaceX valuation forward. Based on the continued progress in the validation of starship technology and its long-term potential in areas such as AI infrastructure, global satellite connectivity, the Bank maintained its “additional” rating of SpaceX stocks and reaffirmed its target price of $300. At the same time, it was noted that the rapid iterative and low-cost launch capabilities of the Starships were the core building blocks of SpaceX for building a “space+AI” complex. SpaceX is expected to further consolidate its dual lead position in the field of commercial space and artificial intelligence infrastructure as the network of satellite chains V3 is accelerating and the orbital calculator layout advances。