JPMorgan Keeps $240 Price Target on SpaceX Stock, Implying 80 Percent Upside on Its Grok AI Push

JPMorgan kept a $240 price target on SpaceX stock in its latest report, carried by Arzdigital on Wednesday, August 26, 2026 (4 Shahrivar 1405), implying roughly 80 percent upside from the current $135 price. Analyst Doug Anmuth wrote that the main driver is not the rocket business but SpaceX's Grok AI model and its recent acquisition of the Cursor coding platform, which generates about $4 billion in annual revenue. If the forecast plays out, SpaceX's market value would cross $3 trillion.

JPMorgan also flagged risks: the company's AI unit posted a $1.26 billion loss last quarter and accounted for 86 percent of capital spending; separately, on September 9 and 10 about 370 million SpaceX shares are due to unlock, which could increase the float by up to 20 percent.