SpaceX stock could hit $300 as Morgan Stanley sees AI growth opportunity

SpaceX started trading publicly on June 12 with an IPO price of $135 per share. The stock opened at $150 and quickly climbed to $225 as investors rushed to buy shares. But the early excitement did not last. The stock has now fallen back to around $150, nearly 35% below its early high after about two months of trading.

Morgan Stanley has given SpaceX a $300 price target. The investment bank believes investors are not fully valuing SpaceX’s artificial intelligence business.