Quick Overview
- Bernstein maintained its Outperform rating on SpaceX (SPCX) with a $239 price target following China’s successful Long March 10B booster recovery
- Shares of SPCX declined approximately 4% on Monday, hovering around $145.30, approaching its 52-week low point
- While China’s booster recovery occurred six months sooner than anticipated, the nation has yet to prove booster reusability
- SpaceX has successfully reused Falcon 9 boosters for almost ten years and achieved 165 launches in the previous year
- Wall Street’s consensus price target for SPCX stands at $246.43, indicating potential 76% gains from present values
Shares of SpaceX (SPCX) experienced a roughly 4% decline at Monday’s market opening, hovering near $145.30, which positions the stock close to its yearly low. This selloff follows China’s weekend announcement confirming the successful recovery of a Long March 10B rocket booster.
Space Exploration Technologies Corp., SPCX
Bernstein’s Douglas Harned, however, remained unfazed by the development. The analyst maintained his Outperform designation alongside a $239 price objective for SPCX, indicating potential returns exceeding 70% from current trading levels.
Harned had just established his bullish stance on SPCX the previous week. His Monday commentary reinforces that optimistic perspective.
On July 10, China successfully retrieved the Long March 10B first-stage booster utilizing an offshore platform during a test flight that invited inevitable comparisons to SpaceX’s established Falcon 9 recovery operations. This achievement represents meaningful advancement in China’s pursuit of reusable launch technology.
While Harned recognized the accomplishment, he provided important context. Though the landing occurred approximately half a year earlier than his projections, he believes the competitive distance between China and SpaceX remains substantial.
Comparing China’s Milestone to SpaceX’s Established Operations
The critical difference Harned emphasizes: China has achieved a booster landing, but hasn’t yet relaunched one. These represent fundamentally different capabilities.
SpaceX has been successfully recovering and relaunching Falcon 9 boosters for nearly ten years. During 2025 alone, the organization executed 165 launches. Such operational frequency stems from years of validated reusability, not merely a singular recovery achievement.
For China to replicate that performance level, it would need to prove reliable relaunch capability and expand manufacturing capacity. Harned views this as requiring several years minimum.
There’s also a meaningful technological distinction. Long March 10 enables first-stage reuse only. SpaceX’s Starship architecture targets complete reusability — both stages — although this full capability remains under development.
Analyst Community Maintains Positive Outlook on SPCX
Beyond Bernstein’s endorsement, numerous analysts have established bullish positions since SpaceX’s public offering.
Raymond James assigned a Street-leading $800 objective, projecting approximately 440% appreciation potential. Deutsche Bank launched coverage with a Buy recommendation and $255 target. Macquarie and Clear Street both issued Outperform and Buy ratings respectively, establishing targets of $250 and $217.
TipRanks’ consensus rating stands at Strong Buy, derived from 22 Buy recommendations, four Hold ratings, and a single Sell. The Street’s average price objective reaches $246.43, representing potential 76% appreciation from Monday’s price levels.
China continues pursuing aggressive space initiatives. The country has submitted ITU filings for deploying over 200,000 satellites into low Earth orbit and is advancing development of a lunar research facility.
Despite these ambitious programs, SPCX stock’s analyst consensus target remains more than $100 above current market prices.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
