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Skip NavigationMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenuInvestors should scoop up shares of SpaceX as growth in the artificial intelligence and space industries will drive gains, according to TD Cowen. Analyst John Blackledge initiated coverage of the stock with a buy rating. His price target of $200 implies upside of 37% from Monday’s close. SpaceX began trading in June following the largest initial public offering in history. The company priced its IPO at $135 per share. It rallied as high as $225.64 but quickly pulled back from those levels. It closed Monday’s session at $145.47. SPCX 3M mountain SPCX 3-month chart Still, Blackledge expects “SpaceX’s terrestrial AI compute leasing (with customers including Google & Anthropic) to comprise the company’s fastest growing revenue stream and majority of overall SPCX rev by 1Q27, driven by ramping terrestrial GW capacity.” He added that he sees SpaceX gigawatt capacity to grow to 6 gigawatts by the end of 2027 from 2.1 in 2026. One gigawatt equates to 1 billion watts of power. “The biggest near-term driver of SPCX revenue is leasing terrestrial AI compute capacity to frontier labs and other companies given the current AI supply and demand imbalance,” Blackledge said. “SPCX currently has 4 customers leasing or starting to lease AI compute capacity in ’26, including Anthropic and Alphabet. We estimate SPCX will generate AI compute leasing revenue of ~$8.1BN in 4Q26, exiting 12/26 with a $41BN [annual recurring revenue].” The analyst also pointed to Starship , SpaceX’s massive rocket that launched into orbit on Monday, as another driver for the company. “Starship opens up the opportunity for more complex government missions (e.g., lunar missions, Mars, etc.), and thus Launch & Development revenue should exceed Launch Services revenue (circa Q1:30),” he said. Most analysts covering the stock are bullish. LSEG data shows that 31 of 40 rate it a buy or strong buy. The average price target implies upside of 57%.Read More