SpaceX Stock Is Worth This Much, According to Dan Ives (Hint: Big Gains Ahead)

Wedbush analyst Dan Ives initiated coverage of SpaceX with an 'outperform' rating and $190 price target, implying 18% upside. Ives values the company at ~$2.5 trillion enterprise value by 2028, viewing it as a diversified AI and space technology business rather than just a rocket company. SpaceX's recent AI infrastructure deals worth up to $82 billion and the $60 billion Cursor acquisition signal the company's pivot toward monetizing AI capabilities alongside its core space businesses. However, the author cautions that investors should focus on fundamental progress rather than analyst endorsements, as the stock has shown volatility since its IPO.