Citigroup Just Opened a "90-Day Catalyst Watch" on SpaceX, While JPMorgan Chase More Than Doubled Its Price Target. Here's Why Wall Street Is Now So Bullish on the Stock

SpaceX reported strong Q3 earnings with $14.6B in revenue and $4.4B net income, beating expectations significantly. CEO Elon Musk projected ambitious goals including 10 GW of AI compute capacity by end of 2027 and $500B-$1T annual recurring revenue. Wall Street responded positively with Citigroup placing the stock on an "upside 90-day catalyst watch" with a $240 price target, while JPMorgan Chase more than doubled its target to $500. However, the author expresses skepticism about the aggressive analyst projections given execution risks and Musk's historical track record of delays.