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JPMorgan Chase reiterated its "Overweight" rating and $240 price target for SpaceX, citing growing confidence in Grok's AI prospects.
JPMorgan Chase reiterated its "Overweight" rating on SpaceX with a price target of $240, citing increased confidence in the prospects of Grok AI. The bank highlighted SpaceX's acquisition of Cursor, which reportedly has an annual recurring revenue (ARR) of approximately $4 billion, with 75% derived from enterprise clients. JPMorgan Chase anticipates that Cursor will strengthen SpaceX's enterprise AI strategy, model training data, and Grok's performance.
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