Morgan Stanley expects SpaceX will be a $100 billion company thanks to Starlink and Starship
Publishing timestamp: 2020-10-22 18:06:35
Summary
Morgan Stanley doubled its long-term valuation estimate for SpaceX to at least $100 billion, citing the company's position in the growing space industry. The firm expects SpaceX to continue solidifying its place as the "mission control" for the emerging space economy, with milestones in Starlink, Starship, and government contracts contributing to the increase in valuation. The base case valuation for SpaceX was increased to $101 billion, with the bull case scenario reaching $203 billion. The key driver of the valuation increase is the growth in SpaceX's rockets and Starlink units. SpaceX's Starship rocket is seen as crucial for the company's future growth, especially in deploying Starlink satellites in high numbers. Despite the positive outlook, Morgan Stanley warned of regulatory, execution, financial, and competitive risks for SpaceX's Starlink project.
Sentiment: POSITIVE
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