Phillip Double-Upgrades SpaceX to Buy, Triples Price Target to $250 on AI Upside

Phillip has double-upgraded SpaceX to Buy and tripled its price target to $250, citing upside from artificial intelligence. The broker's move lifts its rating on the company by two notches in a single action, a rare double-upgrade, and marks a sharp increase in its valuation view.

The revised target of $250 represents a threefold increase from the firm's prior price target, according to the report. Phillip attributed the more bullish stance to AI-related upside at SpaceX, framing artificial intelligence as the central driver of the upgraded outlook.

The double-upgrade places Phillip among the more bullish voices on SpaceX, with the new Buy rating replacing its previous stance. The tripling of the price target signals a materially changed assessment of the company's prospects rather than a marginal adjustment.

For investors, the action highlights how AI is increasingly being factored into valuations of space and satellite businesses, with Phillip treating it as a source of upside rather than a peripheral theme. The $250 target now serves as the broker's benchmark for the stock, and the two-notch upgrade to Buy indicates conviction behind the revised view. The report did not disclose the prior rating or the prior price target beyond noting the triple increase.