Morningstar raised SpaceX's fair value estimate to $70 per share, but still believes that the stock price is significantly overvalued. David Sekera, chief US market strategist at Morningstar, pointed out that buying SpaceX at the current stock price would be to bet that the company's growth rate must far exceed the Morningstar model, or even close to double the model's estimate before it can reach fair value, and there is almost no margin of safety for investors. However, Morningstar's operating outlook for SpaceX itself is quite optimistic. It is estimated that 2026 revenue will reach 41 billion US dollars, double that of 2025; in 2030, revenue will rise to 228 billion US dollars, which is about 5.5 times the 2026 estimate.

Morningstar raised SpaceX's fair value estimate to $70 per share, but still believes that the stock price is significantly overvalued. David Sekera, chief US market strategist at Morningstar, pointed out that buying SpaceX at the current stock price would be to bet that the company's growth rate must far exceed the Morningstar model, or even close to double the model's estimate before it can reach fair value, and there is almost no margin of safety for investors. However, Morningstar's operating outlook for SpaceX itself is quite optimistic. It is estimated that 2026 revenue will reach 41 billion US dollars, double that of 2025; in 2030, revenue will rise to 228 billion US dollars, which is about 5.5 times the 2026 estimate.