Pivotal Research has raised its price target for SpaceX to $230 from $220, maintaining a Buy rating. This upgrade follows SpaceX's reported $8 billion spectrum acquisition and authorization for 15,000 direct-to-device satellites, which could position Starlink as America's fourth major wireless network. The firm forecasts 160 million global mobile subscribers by 2036, with Starlink potentially capturing a 13% share of the U.S. wireless market. Pivotal estimates SpaceX could build its network for approximately $10 billion, significantly less than the $50–100 billion required for traditional carriers.