With rivals Lockheed Martin (LMT) and Boeing (BA) in its sights, SpaceX is en route to see its stock valuation exceed the market caps of the top aerospace and defense stocks, Wall Street analysts explained.
Morgan Stanley currently gives Elon Musk’s company a base-case valuation of $101 billion, nearly double the figure it was awarded in its prior estimation in July. It is also more than double the valuation that was implied during SpaceX’s latest fundraising round in August when the company managed to attract a cool $1.9 billion in capital.
According to Morgan Stanley, the main reason for the significant increase in SpaceX’s value comes due to the company’s introduction of the Starlink satellite constellation and the Starship rocket, along with several government contracts.
Other notable activities that elevated the company’s stock price include the multiple contracts that SpaceX secured.
