Morgan Stanley Reiterates $300 Price Target for SpaceX Ahead of August 6 Lockup Expiry

Morgan Stanley believes SpaceX's (SPCX) fundamentals remain largely unchanged despite growing bearish sentiment, presenting an attractive entry point as the company approaches its IPO lockup expiration on August 6, 2026. Analyst Adam Jonas reiterated the firm's 'Overweight' rating and $300 price target, describing SpaceX as uniquely positioned across launch, connectivity, and AI businesses. The target implies 166% upside potential. At current levels, SPCX is down 4.7% and heading toward its third straight weekly decline.

Meanwhile, HSBC initiated coverage with a 'Hold' rating and $115 price target, citing caution on long-term opportunities but acknowledging SpaceX's clear leadership in commercial space launches. Morningstar analyst Nicolas Owens expects a wave of selling once lockup restrictions expire, noting that early shareholders with low-cost basis and long holding periods will likely sell available shares.