SpaceX Balances Launch Cadence With Spectrum Ambitions as Analysts Reprice the Stock
Published on 10/11/2026 at 15:21 | Editorial boerse-global.de
SpaceX's routine government launch business and its expanding satellite-telecom footprint are increasingly being read by Wall Street as two halves of the same growth story. Fresh off a Falcon 9 flight from Vandenberg Space Force Base that carried 21 data-transport satellites into orbit for the U.S. Space Development Agency — hardware destined for the military's Proliferated Warfighter Space Architecture — the company is keeping its operational tempo high. Days earlier, the NASA Crew-12 mission wrapped up with its capsule splashing down off the California coast, and on October 13 SpaceX plans to launch the CRS-35 cargo run to the International Space Station for NASA, with a window opening around 6:33 a.m. ET.
Those government contracts are no longer a technical gamble but an industrialized transport operation, providing the steady revenue that underwrites far more capital-intensive ventures. One of those is the Starship heavy-lift program, which is simultaneously moving through testing and regulatory review. Ship 40 returned to the Port of Brownsville on Thursday for technical inspection after being recovered from the Indian Ocean, feeding valuable data back into the vehicle's development. Preparations are also underway for the 15th Starship test flight, which the company hopes will push the system closer to operational readiness.
Florida Pad and a Spectrum Bet
Beyond the Texas test site, SpaceX is laying the logistical groundwork at other locations. Julianna Scheiman, a director at the company, said on October 1 that preparations at Launch Complex 39A at the Kennedy Space Center are proceeding on schedule for future Starship missions. Management has yet to name a date for the first launch from the Florida spaceport, but the build-out is viewed as a key building block for sharply raising the frequency of heavy-lift missions.
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That operational scaling underpins the company's parallel business lines. SpaceX recently secured additional rights to a nationwide 800 MHz spectrum portfolio from Grain Management for roughly $8 billion, a move designed to support the expansion of Starlink Mobile. The deal covers up to 14 MHz of paired spectrum and remains subject to approval by the Federal Communications Commission. It follows a recently granted FCC clearance for Direct-to-Device services, positioning Starlink Mobile as a potential major U.S. mobile carrier.
Wall Street Adjusts Its Targets
Analysts have been recalibrating their expectations in response to the recent strategic moves. On Wednesday, Susquehanna's Charles Minervino raised his price target on SpaceX from $144 to $173 while keeping a "Neutral" rating, citing the company's recent operational momentum. Morgan Stanley's Adam Jonas took a more bullish line on Monday, rating the stock "Overweight" with a $300 target and arguing that the market underestimates both the long-term growth prospects and the significance of the upcoming Starship flight for future capacity expansion. Goldman Sachs, meanwhile, nudged its target from $220 to $230 on October 5 while maintaining a buy recommendation.
Regulatory hurdles remain part of the picture. The Federal Aviation Administration is currently running an environmental review for planned Starship and Super Heavy operations at the SLC-37 launch complex, with public comments accepted until October 14, 2026, before a license modification could clear the way for commercial launches and landings.
In European trading, the stock finished the week with modest gains, closing Friday at EUR 145.20, a daily advance of 1.4%. That leaves the shares about 15% above their 50-day moving average, though still roughly 25% below their 52-week high of EUR 194.46. The company's market capitalization stands at around EUR 1,970.64 billion. The combination of Starship's operational progress and the build-out of satellite communications continues to set the tone for how the stock is valued.
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