Morgan Stanley analyst Adam Jonas calls SpaceX "cheap and getting cheaper" on a growth-adjusted basis, reiterating an Overweight rating and $300 price target. While headline metrics show SpaceX trading at 30 times 2028 EV/EBIT, its EV/EBIT/Growth ratio is 0.3 times, about 40% below the mega-cap median. Jonas cites muted investor interest and upcoming catalysts like Starship Flight 15.
Morgan Stanley: SpaceX Stock Cheap Despite High Valuation
Source: Investing.com