Morgan Stanley reiterated its overweight rating on SpaceX with a $300 price target, implying the stock can more than double from its IPO price of $135. The investment bank bases its bullish thesis on artificial intelligence, particularly the acquisition of Cursor, an AI coding tool startup, for $60 billion in stock that reached over $1 billion in annualized revenue in November 2025. More than 60% of Fortune 500 companies and 50,000 enterprises already use Cursor, according to the report. The deal, expected to close within the coming weeks, aims to strengthen SpaceX’s competitiveness against players such as OpenAI and Anthropic, while 29 of 36 analysts covering the company recommend buying the stock. SpaceX shares are down about 6% over the past month and are trading slightly above the June IPO price.
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