Macquarie’s Call and Valuation
Macquarie reiterated an Outperform rating on SpaceX and set a $250 price target in a research note on Tuesday.
The analysts rely on a blend of Sum‑of‑the‑Parts and Discounted Cash Flow analysis, tying valuation to both core launch economics and emerging AI compute revenue streams, according to CNBC.
Macquarie emphasizes “significant upside from AI optionality,” arguing that even partial realization of SpaceX’s long‑term compute ambitions could justify valuations far above the current price.
Starlink’s global footprint, reusable launch capacity and internal chip and data‑center build‑out underpin a thesis that SpaceX controls scarce, scalable compute and bandwidth for frontier AI…
