Bank of America lifts its valuation target for SpaceX, citing a jump in third-quarter revenue

Bank of America has issued another bullish valuation announcement on SpaceX, according to a report distributed via Yahoo Finance on Oct. 22. The update raised the firm’s price target to $275, which the report says is roughly 73% above SpaceX’s last reported close.

The same report frames the call as part of a broader reassessment of where SpaceX’s market value sits after a pullback. It says SpaceX shares were more than 25% below their June closing high, setting up the valuation jump implied by Bank of America’s new target.

In addition to the upside implied by the target increase, the post attributes the shift to operating momentum reflected in financial results. It states that third-quarter revenue increased 161% to $14, using that figure as a key support for the analyst’s confidence.

The report does not describe additional detail such as which revenue lines drove the increase, what margins looked like, or how management characterized demand. It also does not explain whether the $14 figure is meant to be interpreted as billions or another unit, or whether the comparison was year-over-year.

Bank of America’s move comes in a market environment where investors are often trying to separate excitement about long-dated programs from near-term financial execution. For a company like SpaceX, analysts typically focus on subscription demand and launch cadence for the core business, and also on the pace of progress in higher-visibility technology efforts.

What makes this kind of call distinctive is that the “price target” is being discussed in the context of a private-market valuation conversation rather than a traditional publicly traded stock framework. The report, however, does not provide the mechanics of the valuation process or the trading benchmark it uses, limiting how far the implied upside can be compared to a standard exchange-traded scenario.

Still, even with limited detail, the combination of a higher target and a large reported revenue gain is a clear theme: Bank of America is indicating that near-term financial results could justify a higher valuation ceiling. The report does not include any breakdown of risks that might cap that growth, such as regulatory delays, competitive pressure, or capital spending.

Looking ahead, investors will likely watch for whether subsequent updates continue to show similar year-over-year revenue acceleration, and whether any future analyst notes expand on the drivers behind the 161% growth rather than relying on headline results.