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LivestreamMenuAs investors gear up for SpaceX’s historic initial public offering on Friday, Clear Street believes it’s also worth taking a look at some of the rocket maker’s complementary plays and competitors. In a Thursday note, the firm shared a list of companies in its coverage that are either direct competitors or complementary plays to SpaceX. The rivals are stocks whose primary revenue most directly challenges SpaceX’s key businesses in launch, Starlink broadband and direct-to-direct connectivity, analyst Greg Pendy said. On the other hand, Clear Street defined complementary names as companies that support or extend the broader space ecosystem by offering lunar services, Earth observation or analytics. Clear Street’s buy-rated related stocks are shown below. Intuitive Machines Clear Street classified space exploration company Intuitive Machines as a complementary name. Rather than a competitor, the firm sees Intuitive Machines as a SpaceX beneficiary. “The more momentum the lunar economy gains, the more surface infrastructure demand LUNR captures. SpaceX going public and drawing attention to cislunar ambitions is an unambiguous sentiment positive for LUNR in our view,” Pendy wrote. “SpaceX offers the highway; LUNR builds key infrastructure via communications, mobility and landing. Symbiotic with Artemis, not opposed to it.” Shares of Intuitive Machines have surged 69% this year. Pendy’s $44 price target offers additional upside of 44%. Planet Labs Earth imaging company Planet Labs is another complementary play, Pendy noted. The analyst wrote that while he sees “zero direct competition” with SpaceX at the moment, that could change down the road as both companies pursue plans for orbital data centers. “PL operates in a different layer of the space economy entirely, it is a data company, not a launch or connectivity company. Sector-wide enthusiasm on SpaceX’s IPO day could lift PL on sentiment, but its fundamental story is decoupled from SpaceX’s performance in ways most space names are not,” he wrote. Pendy’s $53 price target corresponds to a rally of 55% ahead. Shares of Planet Labs are trading 57% higher on the year. Rocket Lab Pendy called the rocket manufacturer a competitor, noting that Rocket Lab is the “closest public pure-play to SpaceX.” “RKLB is the most direct beneficiary of the SpaceX IPO, not because they are the same business, but because institutional investors seeking vertically integrated space exposure now have a listed benchmark. We expect RKLB to trade in sympathy,” he wrote. “With Falcon 9 booked through 2027, RKLB is well positioned to capture overflow demand, and if Neutron flies on time in late 2026, it enters a vacuum SpaceX cannot fill.” The analyst’s price target of $129 offers upside of 12%. Rocket Lab stock has soared 50% in 2026. AST SpaceMobile Pendy designated satellite designer AST SpaceMobile as the most direct competitor to Starlink, SpaceX’s satellite internet constellation subsidiary. The analyst added that Starlink’s aggression could actually strengthen AST SpaceMobile. “ASTS integrates D2D directly into carrier infrastructure, helping incumbents like AT & T (NYSE: T, NC) and Verizon (NYSE: VZ, NC) retain subscribers against Starlink rather than fighting them. The more aggressively Starlink competes with mobile network operators, the more motivated those carriers become to back ASTS as their D2D hedge,” he wrote. Shares of AST SpaceMobile are up 15% this year. Pendy sees shares rising another 18% to his $115 price forecast.Read More
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