The rocket maker is chasing US$4 billion to fund an Nvidia chip order
SpaceX shares closed at US$171.09 on Monday, almost 8 percent higher and at their strongest level since mid-June.
CNBC reported the rally carried the stock back above its initial public offering price and returned chief executive Elon Musk to trillionaire status.
Musk is worth US$1.03tn once his Tesla and SpaceX holdings are counted, according to the Forbes real-time billionaires list cited by the outlet.
Morgan Stanley analysts called SpaceX “cheap” at today's prices in a Sunday note, CNBC reported, and highlighted “future AI product releases, Starship progress, and additional neocloud contracts.”
The analysts recommend buying the stock and hold a US$300 price target, an increase of about 75 percent from Monday's close.
Morgan Stanley analyst Adam Jonas reiterated the US$300 target on Monday.
“Adjusted for growth, SpaceX is one of the cheaper ways to play the strong optionality of the Space and Intelligence Economy,” Jonas wrote in a note to clients on Sunday, as reported by CNBC.
Per the publication, the analysts told investors to buy before the next planned Starship test flight and ahead of third-quarter earnings expected in late October.
A Starship upper stage ship catch on that flight could be “the biggest positive catalyst since the IPO,” the analysts wrote.
Options volume on Monday ran at twice the 30-day average, with 1.7 million contracts worth a total US$900m changing hands, CNBC reported.
Calls accounted for 1 million of those contracts, worth more than US$640m.
Implied volatility sits at 55, the outlet reported, against more than 110 at the June debut.
Market-makers are assigning a 54 percent chance the stock touches US$185 by the end of October, and less than a 50 percent chance it touches US$225 at any point between now and July.
“Starship has helped out but it seems like Wall Street is piling in starting Q4,” said Charles Moon, a technical and momentum trader at Prosper Trading Academy in Chicago, in comments to CNBC.
SpaceX is seeking to raise US$40bn in a financing effort led by Apollo Global Management to purchase Nvidia chips, the Financial Times reported on Tuesday, citing people familiar with the matter.
Reuters, citing that report, said the company is seeking about US$10bn in bank loans and US$30bn in investment-grade debt.
Apollo is expected to lead the deal and help sell the debt to a broad range of investors, with bond fund Pimco among lenders in talks, according to the FT.
The transaction is expected to close in 2027.
SpaceX, Apollo, Nvidia, and Pimco did not immediately respond to requests for comment from Reuters.
The US Federal Aviation Administration (FAA) said on Tuesday, it is proposing to streamline regulations for commercial space launches and re-entries.
The proposals would allow electronic launch applications, offer greater flexibility in demonstrating equivalent levels of safety, and combine three required safety analyses into a single submission.
“Simplifying these critical rules will ensure American space operators can continue leading the world in commercial launch growth while maintaining the FAA's highest safety standards,” the FAA said in comments reported by Reuters.
According to the same outlet, the White House wants to enable at least 1,000 launches and re-entries annually by 2030, up from 178 launches in 2025,
The public can comment on the proposed changes through November 4.
