Evercore Sees 'Significant' EBITDA Upside for SpaceX on Colossus Ramp
SPCX sits 43% above its 52-week low of $104.83.
Summary
Evercore issued a bullish note on SpaceX, citing Elon Musk's disclosure of 780k GPUs online at Colossus 1 and 2, with capacity expected to reach 2.3-2.7 GW by year-end, well above consensus of 2.1 GW. The firm estimates 2027 AI Solutions & Infrastructure revenue of $83B versus consensus $47B, driven by $29B in incremental annualized revenue from unallocated capacity and $54B from existing deals. This implies 2H26 AI capex of $53B, about 70% above consensus, with spend preceding revenue and EBITDA. Evercore maintains an Outperform rating and $230 price target. The note follows SpaceX's Q2 report showing 92% YoY revenue growth and massive AI investment, and provides a more detailed forward view on capacity and financials. Traders may react to the specific capacity and revenue estimates, which suggest significant upside to 2027 numbers.
At the time of this announcement, SPCX was trading at $149.90 on NASDAQ in the Technology sector, with a market capitalization of approximately $2T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.