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JPMorgan Reiterates Overweight Rating and $240 Target on SpaceX

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SPCXUSDT--

Odaily News: JPMorgan reiterated its Overweight rating and $240 price target on SpaceX (SPCX.O), citing growing confidence in the prospects of its Grok AI. The firm highlighted SpaceX's acquisition of Cursor, which reportedly has annual recurring revenue (ARR) of about $4 billion, with 75% coming from enterprise business. JPMorgan expects Cursor to enhance SpaceX's enterprise AI strategy, model training data, and Grok's performance. (Jin10)

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