SpaceX has barely had time to settle into life as a public company, and Wall Street’s most vocal tech bull is already putting a number on its future.
Dan Ives of Wedbush Securities initiated coverage of SpaceX (SPCX) with an Outperform rating and a $190 price target. The stock closed near $171 on July 1, which means Ives sees roughly 12% upside from current levels.
The bull case: Starlink now, Starship later
The $190 target is anchored to Wedbush’s fiscal year 2028 revenue estimates, which imply an enterprise value of approximately $2.5 trillion.
The near-term thesis rests almost entirely on Starlink, SpaceX’s satellite internet constellation. Ives sees the subscription business as the company’s most immediate profit engine. Starlink currently has around 12 million subscribers generating an average revenue per user of approximately $66.
