Evercore ISI Ups SpaceX Price Target and Maintains Outperform Rating Ahead of Q3 Earnings

Space Exploration Technologies is positioned for a potential boost as it prepares to release its third‑quarter results, according to Evercore ISI. The investment bank kept an outperform rating on the Elon Musk‑owned aerospace firm and raised its price target to $275 from $230, indicating roughly an 85 % upside from the recent closing price. Analyst Kutgun Maral said skeptics view SpaceX’s long‑term projects as more “science‑fiction than financial model,” but added that “the proof points are closer than many appreciate.” The company will report its fiscal third‑quarter earnings in early November. Consensus estimates from LSEG call for earnings of 14 cents per share on revenue of $12.738 billion. Maral noted that the upcoming quarter will be judged less on short‑term metrics—where the firm already trails Street expectations on revenue and EBITDA—and more on upcoming debates that will shape medium‑term estimates and sentiment through year‑end and into 2027. He highlighted several “transformative catalysts” slated for next year, including multiple satellite deployments via the Starship system. “We think reuse could be proven within the next few flights; the Street shouldn’t need thousands of launches to give credit, just reuse and a run of clean flights,” Maral commented. He also pointed to Musk’s target of launching the first Starmind AI satellites in the fourth quarter of 2027, which should clarify the feasibility of orbital computing. Evercore ISI’s bullish stance aligns with broader analyst sentiment; of the 42 analysts covering SpaceX, 33 rate the stock a buy or strong buy, according to LSEG data. Shares have risen about 13 % over the past three months.

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