- Morgan Stanley reiterates Overweight rating and $300 price target for SpaceX, citing Starship Flight 13 successes.
- Flight 13 included Starlink V3 deployment, an in-space engine relight, and the softest splashdown yet, though booster landing was imperfect.
- A potential tower catch of Starship's upper stage on Flight 14 could be the next major catalyst.
Starship Flight 13 Delivers Key Milestones
SpaceX's Starship Flight 13 has boosted investor confidence, according to Morgan Stanley, despite an imperfect booster landing. The flight successfully deployed Starlink V3 satellites, conducted an in-space Raptor engine relight, and achieved its softest splashdown to date. The firm noted these achievements as significant steps toward Starship's commercial viability.
Morgan Stanley maintains its Overweight rating and $300 price target for SpaceX, with analysts emphasizing that the next potential catalyst could come from Flight 14, which may attempt a tower catch of the Starship upper stage. Such a feat would mark a critical advancement in reusability.
Context and Implications
The positive assessment aligns with broader Wall Street reassessment of SpaceX ahead of a potential public listing. The company's Starlink V3 deployment underscores its growing dominance in satellite internet, while the in-space engine relight demonstrates progress toward deep-space capabilities. As one analyst noted, "The trajectory suggests continued emphasis on Starship as a commercial backbone."
Despite regulatory hurdles and the imperfect booster landing, SpaceX's iterative approach appears to be paying off. The firm's ability to scale launch cadence and reduce costs remains central to its long-term valuation. Correction: An earlier version of this article misstated the flight number; it has been corrected to Flight 13.