Morgan Stanley Maintains $300 Price Target for SpaceX Despite Stock Falling to $110

Morgan Stanley maintained an Overweight rating and a $300 price target for SpaceX (SPCX) as the stock fell to $110, after Starship Flight 13 demonstrated key milestones. The test showed all 33 Raptor engines firing cleanly, successful hot-stage separation, deployment of 20 production Starlink V3 satellites, in-space Raptor relight, and the softest splashdown to date. Morgan Stanley said the mission earned an A- grade, showing clear progress from Flight 12, even though the Super Heavy V3 booster had a hard landing with only about five of 13 engines firing during the final burn.

Raymond James also maintained a Strong Buy rating and a Street-high $800 price target, citing reduced execution risk from validated V3 upgrades. Both firms see Flight 14, potentially arriving in late August or early September, as the next major catalyst, with Morgan Stanley noting Elon Musk's comments suggested a first tower catch of the Starship upper stage may be attempted.