--- title: "SpaceX Stock: 'The Proof Points Are Closer,' Says Evercore as It Raises Price Target" type: "News" locale: "en" url: "https://longbridge.com/en/news/302125494.md" description: "Evercore ISI analyst Kutgun Maral raised SpaceX's price target by 20% to $275, maintaining an Outperform rating. He increased the 2029 adjusted EBITDA forecast to $266 billion and expects annualized revenue of $104 billion by end-2026. Key catalysts include Starship reusability tests in 2027, Starlink Mobile expansion, and orbital AI computing via Starmind satellites, despite concerns over high funding costs for AI infrastructure." datetime: "2026-10-16T15:17:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/302125494.md) - [en](https://longbridge.com/en/news/302125494.md) - [zh-HK](https://longbridge.com/zh-HK/news/302125494.md) generator: "portal-rs" --- # SpaceX Stock: 'The Proof Points Are Closer,' Says Evercore as It Raises Price Target SpaceX (SPCX) stock has a new vote of confidence from Evercore ISI. Analyst Kutgun Maral believes the company is closer to delivering results than many expect. "The proof points are closer than many appreciate," he wrote, as he raised his price target by about 20% to $275 from $230. Maral maintained an Outperform rating. Investors remain concerned about the cost of SpaceX's AI expansion. However, Maral believes higher earnings could support a higher valuation despite those funding concerns. ## **Evercore Raises Its Earnings Forecast for SpaceX** Maral raised his estimate for SpaceX's 2029 adjusted EBITDA to $266 billion from $210 billion. That is a 27% increase. Adjusted EBITDA measures earnings before interest, taxes, depreciation, and amortization. At the same time, he lowered the valuation multiple for SpaceX to 15.3 times adjusted EBITDA from 16.6 times. This reflects concerns about the cost of funding its AI expansion. However, the higher earnings forecast more than offset the lower multiple. Evercore expects SpaceX to reach $104 billion in annualized revenue by the end of 2026, above its $100 billion goal. Maral also expects 2.3 gigawatts of computing capacity online by year-end. He sees a chance for that figure to reach 2.7 gigawatts. For 2027, Maral forecasts 6.5 gigawatts of computing capacity, above the Street estimate of 6.1 gigawatts. ## **Starship and Starlink Plans Face Important Tests in 2027** SpaceX's Starship program is drawing attention as the company works toward reusable rockets. Starship reached orbit and deployed its first V3 satellites on Flight 14. Maral expects SpaceX could prove the rocket's reusability within the next few flights. Reusable rockets could lower launch costs and allow SpaceX to deploy more satellites. Each Starship flight could carry about 26 terabits per second of V3 satellite capacity. More launches could help Starlink expand its broadband network. SpaceX is also preparing to expand Starlink Mobile. Its V2 mobile satellites are expected to launch in 2027. The spectrum deal with EchoStar (ECHO) is expected to close in late 2027, ahead of a potential service launch in the first half of 2028. The mobile service could give SpaceX another source of revenue. However, the rollout depends on satellite launches and the completion of the spectrum deal. ## **SpaceX Plans to Expand Its AI Business Beyond Earth** Elon Musk has targeted the fourth quarter of 2027 for the first Starmind AI satellites. Maral sees the launch as an early test of SpaceX's plans to run computing systems in orbit. Orbital computing is still at an early stage. SpaceX needs to show it can launch these satellites and run them as planned. If successful, the project could open another path for AI growth. Maral also expects SpaceX to win more outside customers as it expands its ground-based computing capacity. Progress at Grok and related AI projects could support demand for these services. Still, SpaceX must show that revenue from these projects can cover the cost of expansion. ## **What Is the Price Target for SPCX Stock?** On TipRanks, SPCX has a Moderate Buy consensus rating based on 28 Buys, five Holds, and two Sell ratings. 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