SpaceX Jumps 8% as Musk Reclaims Trillionaire Status; Morgan Stanley Keeps $300 Target

SpaceX (SPCX-US) shares surged nearly 8% on Monday, lifting CEO Elon Musk back into the trillionaire ranks as Morgan Stanley maintained an Overweight rating and $300 price target, implying roughly 75% upside from the latest close. The stock closed Monday at $171.09, its highest since mid-June. Forbes' real-time billionaires list put Musk's net worth at about $1.03 trillion as of October 5, including stakes in Tesla (TSLA-US) and SpaceX. In a Sunday report, Morgan Stanley analysts called SpaceX "cheap" given growth potential, citing AI product launches, Starship development and new AI cloud contracts as catalysts. They advised positioning before the next Starship test flight and third-quarter earnings due in late October, noting a bid to catch the Starship upper stage could be the company's biggest catalyst since listing. SpaceX listed June 12; shares peaked at $201.80 on June 16 before bottoming in early August. The stock has rebounded about 58% from that low.