- TD Cowen initiated coverage of SpaceX with a buy rating and a $200 price target, implying 37% upside from its Monday close of $145.47.
- Analyst John Blackledge expects terrestrial AI compute leasing to become SpaceX's fastest-growing revenue stream and the majority of its overall revenue by Q1 2027.
- Blackledge models AI compute leasing revenue of roughly $8.1 billion in Q4 2026, reaching $41 billion in annual recurring revenue by December 2026.
- The forecast rests on terrestrial gigawatt capacity growing from 2.1 in 2026 to 6 by the end of 2027, with Google and Anthropic named as key customers.
- A successful Starship launch opens more complex government missions and is expected to push Launch & Development revenue above Launch Services revenue around Q1 2030.
引述
“TD Cowen initiated coverage of SpaceX with a buy rating and a $200 price target”