Even though Space Exploration Technologies Corp. (NASDAQ: SPCX) stock has plummeted by more than 33% since its post-IPO (initial public offering) peak through September 30, 2026, Ryan Koontz, a Wall Street analyst at Needham, expects a rally towards a new all-time high (ATH) over the next 12 months.

On Wednesday, Koontz reiterated a ‘Buy’ rating for SPCK stock, according to a note sent to clients. He also reaffirmed the firm’s 12-month price target for SpaceX at $250.

With SPCX stock trading at $149.24 at the time of writing, Needham projects a potential 67.52% upside. This bullish outlook for SpaceX stock is grounded in the fact that the company is accelerating its Artificial Intelligence (AI) compute revenue.

The…