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'Apex Of Civilizational Ambition': Wall Street Bulls Pile In On SpaceX, Raymond James Street-High $800 Target

A flurry of Wall Street analysts is turning incredibly bullish on SpaceX, with 12-month price targets ranging from Raymond James' $800 to Arete Research's $401 and Morgan Stanley's $300.

The average price target across 34 analysts tracked by Bloomberg now sits at around $236, implying massive upside from current levels of about $150 and reinforcing the view that analysts are beginning to value SpaceX less as a rocket company and more as a foundational AI, satellite broadband, and next-generation infrastructure company.

Raymond James is the most bullish among analysts covering SpaceX, initiating coverage with a "Strong Buy" rating and a Street-high 12-month price target of $800, about 500% above its IPO price.

"Just as railroads, electric grids, and the Internet reshaped prior economic eras, we believe SpaceX is building the foundational platform for the next generation of industrial capacity," Raymond James analyst Brian Gesuale wrote in a note to clients.

JPMorgan analyst Doug Anmuth told clients Tuesday that his team initiated coverage on SpaceX with an "Overweight" rating and a $225 12-month price target.

"SpaceX's ambitions are bigger than any company's we've seen - to make life multi-planetary, leverage the Sun to build out AI in space, & build bases on the Moon and cities on other planets," Anmuth wrote in the note.

He continued:

In our view, no other company is as well positioned to go after the combined anticipated TAM of $28T+. Launch is the key enabler & differentiator, with ~670 orbital launches, a 99%+ success rate, & 80%+ of all mass to orbit since 2023. Starship should deliver a 10x cost improvement & ~4x higher payload vs. Falcon 9 and enable the company to pursue entirely new markets. Connectivity drives current financials via Starlink, the largest LEO constellation (9,600+ satellites, 12M+ active customers, 164 markets), where we project broadband subscribers growing from 9M in 2025 to 95M+ in 2030. Importantly, AI is expected to be the long-term driver, as SpaceX is modeled to ramp terrestrial compute ~8x to 8GW by the end of 2028 & pursue orbital compute towards ~75GW by the end of 2031. We believe significant upside potential remains as the company quite literally builds out the next frontier.

Edison Yu at Deutsche Bank told clients earlier today that SpaceX "represents in our view the apex of civilizational ambition, oftentimes expressed in steel and fire, bending the arc of history to make humans multiplanetary by building foundational infrastructure across transportation, connectivity, and AI."

"In short, across nearly every category, we struggle to find competitors that can challenge SpaceX's moat and therefore initiate coverage with a Buy rating and $255 price target," Yu said.

SpaceX shares fell 5.5% on Tuesday morning to $151 and now trades down 31% from the June 16 intraday high of $218. Shares have been basing around the $150 level since June 24.

Another major bull on the stock is Morgan Stanley, which has a $300 12-month price target, with analysts at the bank stating that the company stands to gain from AI demand.

RBC Capital Markets analyst Tom Narayan raised Tesla's 12-month price target on the view of a SpaceX-Tesla merger on the horizon.

Narayan continued:

Our view: In this report, we raise our Tesla PT to $500 by incorporating a 25-30% premium to current trading levels, (and a 15% premium to the stock's intrinsic value), owing to a potential SpaceX acquisition scenario based on unconfirmed media reports. We also sharpen our pencils on our Tesla intrinsic valuation. We believe our robotaxi work in particular is unique in both in its approach and detail.

Meanwhile, Morningstar analysts remain the most bearish on SpaceX, with a "Sell" rating and a 12-month price target of $62.

Professional subscribers can read the full SpaceX coverage from leading desks here at our new Marketdesk.ai portal. 

We suggest starting with: 

1. Deutsche Bank: Apex of Civilizational Ambition

2. Needham: Launch King Secures Its Rule in Orbital Infrastructure; Initiate Buy

3. RBC Capital Markets: Space, the final frontier, repriced; initiating at Outperform with a $225 price target

4. Morgan Stanley: AI's Final Frontier; Initiate at Overweight, PT $300

5. JPMorgan: The Next Frontier; Initiating Coverage with an Overweight Rating & $225 PT

Index inclusion could provide support for SpaceX around the $150 level. Bloomberg Intelligence analysts estimated that inclusion in the Nasdaq-100 and FTSE Russell could generate at least $5.4 billion in demand from index-tracking funds.

Tyler Durden Tue, 07/07/2026 - 13:20

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1 Year Inflation Expectations Jump To 3 Year High In Latest NY Fed Consumer Survey

Inflation as measured by the CPI may have peaked, but Americans’ expectations for inflation over the near and medium term rose notably in June according to a Federal Reserve Bank of New York survey released Tuesday, with strong increases anticipated for medical care costs and rent,

Consumers now see inflation at 3.7% over the next year, up from 3.5% in May, the highest since September 2023. Expectations for inflation in three years increased to 3.3%, the highest since June 2022, up from 3.1%, while estimates for inflation in five years remained steady at 3%. 

After months of facing higher energy costs, consumers said they see gas prices rising at the lowest rate since mid-2022. Their outlook for food prices also improved slightly in June, though households expect higher bills for medical care and rent. As shown below, median year-ahead commodity price change expectations increased by 0.5% point for the cost of medical care to 9.4%, and by 0.9 percentage point for rent to 8.3%. Median year-ahead price change expectations decreased by 0.8 percentage point for food to 5.0%, by 2.3 percentage points for the cost of college education to 5.7%, and by 3.5 percentage points for gas to 1.5%. The June reading for gas is the lowest since August 2022.

Energy prices have declined in recent weeks, following an interim peace deal between the US and Iran. Earlier on Tuesday, New York Fed President John Williams said he now sees a positive near-term outlook for inflation, which rose 4.2% in May from a year earlier.  

Despite the jump in near-term inflation expectations, sentiment improved when it comes to jobs: the mean perceived probability of losing one’s job in the next twelve months decreased by 1.0% to 14.1%, and the mean perceived probability of finding a job if one’s current job was lost increased by 1.2% to 44.9%.

The data also pointed to an improvement in consumers’ finances. The share of households saying their financial situation was better than last year increased in June, a smaller share of households reporting a worse financial situation and a larger share reporting a better financial situation, and expectations for future finances also improved.

.... however, expectations for future credit availability deteriorated slightly, with a larger share of respondents expecting that it will be harder to obtain credit in the year ahead.

The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 2.9 percentage points to 40.9%, the highest level of the series since April 2021.

Some more details from the report:

Labor Market

• Median one-year-ahead earnings growth expectations increased by 0.1 percentage point to 2.8% in June. This is the highest reading since March 2025.
• Mean unemployment expectations—or the mean probability that the U.S. unemployment rate will be higher one year from now—decreased by 1.5 percentage points to 41.7%, remaining above the 12-month trailing average of 41.3%.
• The mean perceived probability of losing one’s job in the next 12 months decreased by 1.0 percentage point to 14.1%, falling below the 12-month trailing average of 14.5%. The mean probability of leaving one’s job voluntarily in the next 12 months (or the expected quit rate), declined by 3.5 percentage points to 17.3%, falling below the 12-month trailing average of 18.6%.
• The mean perceived probability of finding a job if one’s current job was lost increased by 1.2 percentage points to 44.9%, though it remains below the 12-month trailing average of 46.3%. The increase was driven by respondents with household incomes under $50,000.

Household Finance

• The median expected growth in household income increased by 0.2 percentage point to 3.0% in June. The series has been moving in a narrow range between 2.8% and 3.0% since June 2025.
• Median one-year-ahead nominal household spending growth expectations remained unchanged at 5.0%.
• Perceptions of credit access compared to a year ago improved, with the net share of households reporting it is harder to get credit decreasing. Expectations for future credit availability deteriorated slightly, with a larger share of respondents expecting it will be harder to obtain credit and a smaller share expecting it will be easier to obtain credit in the year ahead.
• The average perceived probability of missing a minimum debt payment over the next three months decreased by 1.8 percentage points to 10.8%, the lowest reading since April 2023. The decline was broad-based across age and education groups.
• The median expectation regarding a year-ahead change in taxes at current income level remained unchanged at 3.1%.
• Median year-ahead expected growth in government debt decreased by 0.4 percentage point to 9.5%, remaining above the 12-month trailing average of 8.7%.
• The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 2.0 percentage points to 26.6%.
• Perceptions about households’ current financial situations compared to a year ago improved, with a smaller share of households reporting a worse financial situation and a larger share of households reporting a better financial situation. Year-ahead expectations about households’ financial situation also improved, with a smaller share of households expecting a worse financial situation and a larger share of households expecting a better financial situation in one year from now.

The report comes as some investors see the Fed raising rates later this year to address elevated inflation, although others such as Morgan Stanley are pretty steadfast the Fed will not hike. Fed officials have kept interest rates steady in 2026, though economic projections released last month showed nine officials see the need for at least one rate increase by year end.

Tyler Durden Tue, 07/07/2026 - 12:40

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