{
  "id": 16586393,
  "title": "Citigroup Just Opened a \"90-Day Catalyst Watch\" on SpaceX, While JPMorgan Chase More Than Doubled Its Price Target. Here's Why Wall Street Is Now So Bullish on the Stock",
  "url": "https://urgent.news/2026/10/26/citigroup-just-opened-a-90-day-catalyst-watch-on-spacex-while",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-26T10:30:00.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/investing/2026/10/26/citigroup-just-opened-a-90-day-catalyst-watch-on-s/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "SpaceX, the company founded by Elon Musk, has recently become a focal point for Wall Street, with Citigroup initiating a 90-day catalyst watch and JPMorgan Chase doubling its price target. This newfound bullish sentiment stems from SpaceX's impressive third-quarter performance and optimistic forecasts from the company's CEO.\n\nIn its latest quarter, SpaceX exceeded analysts' expectations with revenue of $14.6 billion, surpassing the average estimate by nearly $1.7 billion. Net income also outperformed predictions, landing at $4.4 billion. Furthermore, SpaceX projected a staggering $33 billion to $37 billion in revenue for the first quarter of 2027, a figure that significantly exceeds previous estimates of $22 billion.\n\nAt the company's earnings conference call, Elon Musk painted an ambitious picture of SpaceX's future. He expressed confidence that the company would add 10 gigawatts (GW) of AI compute capacity by the end of 2027, with a slim chance of reaching 20 GW. Additionally, Musk highlighted SpaceX's goal of generating an annual recurring revenue run rate between $500 billion and $1 trillion by the end of 2027.\n\nThese projections have certainly piqued Wall Street's interest. Citigroup's John Godyn placed SpaceX on an upside 90-day catalyst watch and raised his price target to $240, indicating a potential 63% upside from current levels. Godyn attributed this optimism to SpaceX's ability to surpass expectations and raise its outlook. The company's credibility has grown as it has beaten analyst estimates and revised its guidance.\n\nJPMorgan Chase's Doug Anmuth echoed this bullish outlook, maintaining his outperform rating and more than doubling his price target from $240 to $500 per share. Anmuth acknowledged the challenges ahead, including the execution of Musk's ambitious plans, such as building 10 GW of compute capacity and achieving a $400 billion revenue run rate by the end of 2027. However, he remains optimistic, citing SpaceX's track record of rapidly deploying data centers and the growing demand for AI compute power.\n\nWhile SpaceX's progress is undeniable, some analysts remain skeptical. For instance, Musk's previous predictions, such as his claim that autonomous driving is a \"solved problem\" with Tesla, have not always panned out. Nonetheless, the combination of SpaceX's strong financial performance and Musk's visionary leadership seems to have captured the imagination of investors, leading to the current surge in optimism surrounding the company's prospects.",
  "summary": "Wall Street is increasingly optimistic about SpaceX.",
  "key_points": [
    "Citigroup initiates 90-day catalyst watch on SpaceX with $240 price target",
    "JPMorgan Chase doubles price target to $500 per share for SpaceX",
    "SpaceX exceeded revenue expectations by $1.7 billion in Q3"
  ],
  "editors_take": "SpaceX’s ability to consistently outperform financial estimates and raise future guidance is transforming the company from a speculative venture into a credible powerhouse for institutional investors.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}