Amidst SpaceX (NASDAQ: SPCX) stock price recovery and the approaching Cursor acquisition, Morgan Stanley’s (NYSE: MS) Adam Jonas reiterated his highly bullish assessment of the company.

Specifically, the Wall Street analyst rated SPCX equity as a ‘Buy,’ while forecasting a 116.23% 12-month rally to $300. Furthermore, Jonas also outlined a SpaceX stock ‘bull case’ at $600 per share, seemingly contingent on Cursor turning from a ‘harness’ and into a ‘frontier’ model.

Additionally, Morgan Stanley explained it sees Cursor’s annualized run rate (ARR) reaching $8 billion by the end of the year and up to $33 billion by 2030. ARR is a somewhat dubious metric as it grants companies significant discretion in…