Oppenheimer Raises SpaceX Price Target to $250 After Cursor Acquisition, Sees 26% Upside

According to Oppenheimer, SpaceX stock received a raised price target of $250 from $190 on Wednesday, implying 26% upside from the stock's close, following the company's $60 billion acquisition of AI coding firm Cursor. The firm maintained an 'Outperform' rating, citing improved visibility into SpaceX's vertically integrated AI infrastructure stack and developer ecosystem integration through the Cursor deal.

Oppenheimer lifted SpaceX's Q4 AI revenue estimate to $8.75 billion from $4.75 billion and expects Cursor's annual recurring revenue to reach $6 billion by end-2026, supporting long-term margin expansion potential. At the time of writing on Thursday, SPCX stock was down 10% from Wednesday's close.