JPMorgan lifted its SpaceX price target to $500, surpassing the $274 ceiling in EconoTimes’ previous review of bank targets as the bank more than doubled its longer-term estimates.
The bank raised its target from $240 and maintained an Overweight rating. JPMorgan projects about $254 billion in SpaceX revenue for 2027; its estimates for 2027 and 2028 are each now more than twice their previous levels.
JPMorgan’s projection of $24.41 in 2028 GAAP earnings per share puts the $500 target at roughly 20 times that earnings figure.
SpaceX reported third-quarter revenue of $14.575 billion, 161.39% higher than in the same quarter a year earlier. That figure covers one quarter, while JPMorgan’s revenue estimate is for the full year 2027.
Musk separately set a target for annual recurring revenue (ARR) of $500 billion to $1 trillion by the end of 2027. His goal uses a recurring revenue measure, distinct from JPMorgan’s forecast for SpaceX’s total revenue in 2027.
