Goldman Sachs Lifts SpaceX (SPCX) Price Target to $230 in Second Raise Since July

Goldman Sachs published a raised price target on SpaceX (SPCX) on Wednesday, lifting it by $10 to $230 from $220, the bank's second increase since it opened coverage of the shares at $205 in July under analyst Eric Sheridan. Goldman was a lead underwriter on SpaceX's June initial public offering, so the note amounts to the underwriter's own updated read on the company it took public. The raise lands with the shares in a very different place than when the $220 figure was set: market data shows SpaceX closed at $171.92 on October 6, after sitting near $120 when that earlier target still looked difficult to defend.

CNBC's Jim Cramer argued the move proves the earlier number was not guesswork. “Maybe there really is some rigor to the analysis,” the Mad Money host said. He noted that analysts covering speculative names rarely lift targets until buyers have already pushed shares past the old level, which is why he reads this as the bank moving ahead of the stock rather than chasing it. The Goldman note, as he summarized it, cites higher expected AI capacity, revenue and margins. Cramer connects those assumptions to demand for SpaceX's rented AI computing, the same demand he says underpins the company's reported $40 billion chip-buying plan. He added that SpaceX's story could play out faster than Tesla's, though he conceded that pace does not suit his Charitable Trust.

Deutsche Bank Cut, Morgan Stanley at $300

The rest of the IPO syndicate does not read the numbers the same way. On August 5, Goldman lifted its target to $220 while Deutsche Bank cut its own from $255 to $235, a rare public divergence between two of the banks closest to the deal. Morgan Stanley's $300 target remains the highest among the four banks that led the June offering, which puts the range across the syndicate at $235 to $300 even after Goldman's new $230.

The $40 billion chip plan those targets partly rest on is still unsecured. Reports describe the structure as $10 billion in bank loans and $30 billion in investment-grade debt, but people familiar with the discussions caution the talks are preliminary and may not produce an agreement. If completed, the $40 billion would rank among the largest debt raises for AI infrastructure to date. Goldman's higher target arrives before SpaceX reports third-quarter results, the first public test of the AI revenue and margin assumptions sitting behind the revised numbers.

SPCX at $168.50 With Uptrend Intact

The market has not repriced toward the new target yet. COINOTAG data shows the shares at $168.50, up 0.06% over the past 24 hours within a range of $165.86 to $171.36. In the stock perpetual market, open interest stands at $347,536,108, a position base that has yet to lean decisively on either side. The composite scores the $160.25 support at 85/100 and the $175.79 resistance at 80/100, so Goldman's $230 sits well above the nearest defended level. Momentum readings stay constructive: the daily RSI prints 67.7, the MACD signal is bullish, and the daily trend reading remains an uptrend.