SpaceX Rises 2.8% to $162 on July 2 Amid Analyst Valuation Debate

According to Barron's, SpaceX rose 2.8% to $162 on Thursday, July 2, defying mixed sentiment from two new Wall Street research reports. Daiwa Securities analyst Jonathan Kees initiated coverage with a hold rating and $175 price target, implying a $2.4 trillion valuation, citing elevated valuations despite the company's leading launch business and Starlink satellite services.

Investment firm Kailash Concepts issued a more pessimistic report, flagging SpaceX's 100x revenue valuation as catastrophic, warning that such multiples historically deliver poor returns. Kailash noted the valuation hinges almost entirely on a future promise: deploying up to 1 million orbital AI data center satellites to compete with ground-based cloud providers. Both bulls and bears agree orbital AI drives SpaceX's trillion-dollar valuation; their disagreement centers on whether this space AI vision will materialize or remain speculative.