Oppenheimer analyst Timothy Horan reiterated a 'Buy' rating for SpaceX (SPCX). Horan raised the 12-month price target to $280 from $250. This suggests a potential upside of nearly 100% from its current trading price. The analyst noted the stock remains in a "macro bear market." The raised target reflects growing confidence in SpaceX's future.
Horan's bullish outlook stems from SpaceX's increasing role as a vertically integrated artificial intelligence powerhouse. He cited rapid infrastructure expansion as a key driver. The company's use of Nvidia's next-generation chips also contributes. The acquisition of coding platform Cursor provides a transformative impact. Oppenheimer increased its long-term revenue estimates for SpaceX by 10-20%. This increase is due to stronger expected pricing power in AI computing.