Oppenheimer slaps Outperform rating on SpaceX, $190 price target ahead of market debut
Key takeaways
- The price target implies around 40% upside from the $135 IPO price, and values the firm at a hefty $2.5 trillion.
- Key to that return is space-based, or orbital, data centers and getting that equipment up into space.
- Oppenheimer expects growth to accelerate in 2027 as Starship enters commercial service, but warned that the rocket "needs to enter commercial service before year-end" for its estimates to hold.
Oppenheimer slaps Outperform rating on Space X, $190 price target ahead of market debut Pras Subramanian · Senior Reporter Thu, June 11, 2026 at 11:32 PM GMT+7 3 min read SPAX.PVT SPCX OPY Oppenheimer initiated coverage of Space X (SPCX) with an Outperform rating and a $190 price target on Thursday, one day before the company begins trading on the Nasdaq under the ticker SPCX. The price target implies around 40% upside from the $135 IPO price, and values the firm at a hefty $2.5 trillion.
Analyst Timothy Horan said SpaceX intends to converge communications and cloud computing using space-based infrastructure, calling it "the only vertically-integrated AI company with the required capital, data, LLMs, hardware, manufacturing and engineering talent." The firm sees a potential $10 trillion total addressable market by 2035.
Key to that return is space-based, or orbital, data centers and getting that equipment up into space. Horan notes SpaceX is targeting 10,000 Starship launches per year, or 27 a day — to deploy one million orbital data centers and 100,000 communications satellites supporting a terawatt of its own manufactured chips.