JPMorgan raised its SpaceX (NASDAQ: SPCX) price target to $500 from $240 on October 21, with analyst Doug Anmuth maintaining an Overweight rating after the company’s third-quarter report, The Fly reported.
The $260 increase represents a roughly 108% rise in the bank’s target. JPMorgan said sales exceeded expectations across all three business segments, while identifying the Super Intelligence division as the main driver of future growth.
According to The Fly’s account of the note, SpaceX expects 2–3 gigawatts of computing capacity by the end of 2026 and plans to add another 10 gigawatts in 2027. Those figures describe planned capacity, rather than infrastructure already operating.
SpaceX’s results showed revenue of $14.58 billion, up 161% from a year earlier, and net income of $4.40 billion. As MarketSpeaker previously reported, the quarter’s growth reflected its expanding AI and Starlink businesses.
The Super Intelligence segment generated $7.56 billion in quarterly revenue, more than half the total, and returned to an operating profit of $431 million. JPMorgan also said management was not considering an equity raise, according to The Fly; the capacity expansion remains a forward-looking plan.
