SpaceX stock jumps 8% on Q3 earnings beat, analysts raise targets

SpaceX stock surged 8% after reporting third-quarter revenue of $14.6 billion, far exceeding the $12.7 billion consensus, with adjusted earnings of 45 cents per share beating forecasts of 13 cents. Analysts highlighted Starlink subscriber growth of 1.6 million to 13.6 million and progress on AI initiatives, including a Terafab chip collaboration with Tesla and Intel targeting volume production within two years, plus expanded adoption of its Grok chatbot and new cloud services agreements. Several firms raised price targets, with JPMorgan's $500 implying 238% upside and Barclays' $300 suggesting 103% gains, while HSBC held a cautious $150 target, citing limited historical data and guidance.