Buy SpaceX ahead of earnings, says Evercore ISI
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Space Exploration Technologies could get a boost after reporting third-quarter results as investors gain clarity on several aspects of its business, according to Evercore ISI. The investment firm has an outperform rating on SpaceX. It raised its price target on shares to $275 from $230, suggesting 85% upside from Thursday's close. "Skeptics point to a complex story built on long-dated initiatives that can feel more science fiction than financial model," analyst Kutgun Maral said Friday in a note to clients. "We think the proof points are closer than many appreciate." The Elon Musk-owned company will post its financial results for the third quarter in early November. Analysts polled by LSEG expect the company to report earnings per share of 14 cents on revenue of $12.738 billion. SPCX 3M mountain SPCX 3-month chart "We expect SPCX's 3Q26 print to be judged less on the quarter (where we're ahead of the Street on revenue/EBITDA) than on…debates that should drive medium-term estimates and sentiment through year-end and into 2027," Maral wrote. The analyst added that several "transformative catalysts" should come next year. Those include several SpaceX satellite deployments using Starship. "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 wrote. "Musk has targeted 4Q27 for the first Starmind AI satellites, which should start to answer the feasibility question on orbital compute." Evercore ISI's call falls in line with consensus on the Street. Of the 42 analysts covering SpaceX, 33 have a buy or strong buy on the stock, LSEG data shows. Shares have risen about 13% over the past three months.