Prof G Markets · Thursday, July 16, 2026
Nicholas Owens of Morningstar contrasts his firm's $62 price target for SpaceX with other analysts' higher targets, including one at $800 per share. He attributes the discrepancy to methodological differences, with Morningstar using discounted cash flow models extending to 2045, while others rely on multiples applied to future earnings.
“And the average price target is, you know, just shy of $242 per share.”
“I have a discounted cash flow model. We have forecasts out to 2045. We're discounting those today. So we're saying these shares are fundamentally worth $62 today, probability weighted.”
“A lot of those analyses that you're referring to, they're doing things like, let's get to 2027, 2028 when they might be making money a little bit and then we're going to put a 100X multiple or something on that number.”