[SpaceX headquarters in Hawthorne, California] Sundry Photography/iStock Editorial via Getty Images Shares of SpaceX (SPCX [https://seekingalpha.com/symbol/SPCX]) rose about 4% on Monday after Morgan Stanley said the rocket and satellite company offered an "unusually cheap" way to play the growing space and artificial intelligence economy, reiterating an overweight rating and a $300 price target. Current PT implies an 88.7% upside from Friday’s close. Analyst Adam Jonas said SpaceX (SPCX [https://seekingalpha.com/symbol/SPCX]) looked expensive on conventional metrics but relatively cheap after adjusting for growth. The stock trades at about 30 times estimated 2028 EV/EBIT, versus roughly 16 times for other mega-cap AI enablers, but at only 0.
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