Citigroup Just Opened a "90-Day Catalyst Watch" on SpaceX, While JPMorgan Chase More Than Doubled Its Price Target. Here's Why Wall Street Is Now So Bullish on the Stock

SpaceX (SPCX) is drawing aggressive Wall Street upgrades after a blowout third quarter, with JPMorgan Chase (JPM) more than doubling its price target to $500 and Citigroup (C) opening an "upside 90-day catalyst watch" with a $240 target.

The company reported $14.6B in revenue and $4.4B in net income, a significant beat against expectations. Elon Musk paired the print with ambitious guidance: 10 GW of AI compute capacity by the end of 2027 and $500B to $1T in annual recurring revenue.

The gap between the two targets is the story. JPM's $500 sits more than double Citigroup's $240, a spread that shows how widely analysts differ on what SPCX is worth after the report.

One skeptical view cuts against the enthusiasm. The source article's author questions the aggressive projections, citing execution risks and Musk's history of delays. Interpretation: guidance this large leaves little room for slippage, and the stock may price in perfection against targets that depend on multi-year buildouts.

Of the securities tagged in this coverage, SPCX is the primary focus, with C and JPM serving as the sources of the two headline calls.