Bank of America Securities reaffirmed its buying rating and $235 target price after SpaceX's second-quarter results beat expectations. The agency said revenue and profitability exceeded expectations, while management strengthened its long-term growth outlook, including achieving an annualized revenue rate of $100 billion by December 2026 and a revenue target of $1 trillion by 2030. Although concerns about higher capital expenditure and AI/Starlink monetization remain, Bank of America remains optimistic about SpaceX's competitive position and raised its forecast.

Bank of America Securities reaffirmed its buying rating and $235 target price after SpaceX's second-quarter results beat expectations. The agency said revenue and profitability exceeded expectations, while management strengthened its long-term growth outlook, including achieving an annualized revenue rate of $100 billion by December 2026 and a revenue target of $1 trillion by 2030. Although concerns about higher capital expenditure and AI/Starlink monetization remain, Bank of America remains optimistic about SpaceX's competitive position and raised its forecast.