Update: SpaceX Shares Look 'Cheap and Getting Cheaper,' Morgan Stanley Says

MT newswire2026/10/05 16:43

12:43 PM EDT, 10/05/2026 (MT Newswires) -- (Updates with additional details in the third and fourth paragraphs.) SpaceX (SPCX) shares are "cheap and getting cheaper," Morgan Stanley analyst Adam Jonas said in a note Sunday. The shares have hovered around $150 per share since early August, and at $159, investors can take advantage of an opportunity to buy shares that, "while expensive on any trailing metric, look unusually cheap on the forward," Jonas said. The company trades at about 30 times estimated 2028 enterprise value to earnings before interest and taxes, compared with about 16 times for other mega-cap AI enablers, the note said. However, when adjusted for year-over-year growth, it trades at 0.3 times, lower than the mega-cap median, the note added. Morgan Stanley maintained its overweight rating and $300 price target on SpaceX. The company's shares rose over 5% in the session. Price: 167.05, Change: +8.08, Percent Change: +5.09

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