Key Points

• Pivotal Research raised its SpaceX price target from $220 to $230, citing Starlink Mobile's expansion potential.
• Pivotal expects Starlink Mobile to capture 13% of the U.S. wireless market by 2036, with roughly 160 million subscribers.
• Morgan Stanley maintained its $300 target, while SPCX traded below its recent $176.42 high.

SpaceX (SPCX) stock price predictions drew renewed attention on Oct. 12 after Pivotal Research raised its price target on the company, citing the expansion potential of Starlink Mobile. The upgrade followed SpaceX's agreement to acquire wireless spectrum from Grain Management, an $8 billion transaction that has unsettled telecom operators in the United States and abroad.

SPCX closed at $163.46 on Monday, recovering modestly from Friday's close of $162.57. Even so, shares remained approximately 7.4% below their Oct. 6 intraday high of $176.42. Morgan Stanley separately maintained a $300 target on the stock, reflecting expectations for longer-term growth.

Pivotal Raises Target to $230 After Spectrum Deal

Analysts have maintained a bullish outlook on SpaceX since the company announced it had acquired low-band spectrum from Grain Management in an $8 billion deal that underpins its Starlink Mobile ambitions. Low-band spectrum is among the scarcest resources in telecommunications: its signals travel farther and penetrate buildings more effectively than higher-frequency airwaves, making it the coverage backbone of any nationwide mobile service — and a reason incumbents guard it so closely. The move sent shockwaves through equity markets, with leading American telecom companies slumping — among them Verizon (V), Comcast (CMCSA), AT&T (T) and T-Mobile. Those stocks fell amid fears that SpaceX could disrupt their businesses by offering better services at a lower cost.

The retreat was not confined to U.S. telecom stocks. It extended globally, with companies such as BT Group, Vodafone and Deutsche Telekom also declining.

Analysts now view SpaceX's entry into the wireless industry as a positive development given the size of the potential market. In a recent report, Pivotal Research said it expects SpaceX to capture a 13% market share by 2036. The firm projects that Starlink will reach approximately 160 million subscribers by then, including 50 million in the United States. Pivotal also raised its price target from $220 to $230, implying about 55% upside from current levels.

The challenge, however, is that the rollout will require enormous spending. Pivotal believes SpaceX will need to invest between $50 billion and $100 billion to build a nationwide tower-based network.

Other Analysts Boost Their SPCX Forecasts

In addition to Pivotal Research, other analysts have raised their outlooks for SpaceX shares. Adam Jonas, a Morgan Stanley analyst, said he expects the stock to jump to $300, representing roughly 85% upside from the current level. Jonas pointed to the upcoming Starship Flight 15, which will mark a significant step toward making the company's next-generation rocket fully reusable. The test, scheduled for Nov. 8, will see SpaceX attempt to catch the returning spacecraft with mechanical arms at the launch tower.

William Blair reiterated its outperform rating, while Barclays carries a price target of $254.

Despite the wave of upgrades, the company faces major challenges. There are signs that SpaceX's credit is coming under pressure as bond yields continue to rise. Yields climbed further after the company said it would raise $40 billion through bank loans and investment-grade government bonds — funds earmarked for purchasing Nvidia chips to bolster its data center business. The financing backdrop is a variable to watch alongside the buildout itself, since rising yields translate into costlier debt for capital plans measured in the tens of billions.

Technical Analysis

The daily chart shows SPCX has rebounded over the past few months, soaring from a low of $105.27 in August to a high of $176.33. The stock recently moved above the important resistance level at $157.99 — its highest point on Sept. 21 — and that breakout confirmed the bullish outlook.

SPCX has since retested that level, a move that confirms a break-and-retest pattern, and it has remained above the 50-day Exponential Moving Average (EMA). The analysis suggests the stock may rebound in the coming days or weeks. If that happens, the initial target to watch is $176.33.

This article is for informational purposes only and does not constitute financial or investment advice.