The news that Elon Musk’s Starlink is preparing to become a major carrier sent U.S. telecom giants’ equities plunging, had next to no impact on SpaceX (NASDAQ: SPCX ) stock but, by press time on October 12, registered with some Wall Street analysts.
Specifically, Pivotal Research’s Jeffrey Wlodarczak issued a note on Monday in which he maintained his previous ‘Buy’ rating and increased the 12-month SPCX price target from $220 – 33.90% above $164.30 at press time – to $230, for a 39.99% forecasted upside.
The analyst cited SpaceX’s agreement to acquire a nationwide low-band spectrum license portfolio, made with the explicit goal of becoming a major mobile carrier in the U.S., and estimated the firm could have 160 million worldwide subscribers by 2036.
We announced an agreement to acquire a nationwide low-band spectrum license portfolio that will pave the way for @Starlink to become a major mobile carrier in the US.
With this new spectrum and our Gen2 constellation, Starlink Mobile can ensure Americans have access to… pic.twitter.com/uVktZ0g3tu
— SpaceX (@SpaceX) October 8, 2026
Additionally, a part of the reason for the upgrade was the estimate that Elon Musk’s firm could build its network for roughly $10 billion – significantly lower than the more typical cost range between $50 billion and $100 billion.
Wall Street sets SpaceX stock price target for the next 12 months
Zooming out, while Wlodarczak’s revision came after a major business development, it nonetheless fell close to the existing consensus on Wall Street.
Indeed, SpaceX stock is, overall, considered a ‘Moderate Buy’ based on all ratings published in the last three months, and boasts twenty-eight positive, five ‘Hold’, and two ‘Sell’ recommendations.
Wall Street sets SpaceX stock price target for the next 12 months. Source: TipRanks
The average SPCX price target for the next 12 months is only slightly lower than the one assigned by Pivotal Research and estimates a 31.43% rally to $216, per the data Finbold retrieved from TipRanks on October 12.
SpaceX stock reacts to Starlink challenging U.S. telecom giants
Lastly and notably, though the plans for Starlink to become a major U.S. carrier had a large impact on existing telecom giants and led Jeffrey Wlodarczak to revise his target, they had a limited impact on SpaceX stock itself.
Indeed, at their press time price of $164.30, SPCX shares are only slightly above their October 8 price and approximately 0.7% under their October 9 open – the first since the announcement.
SpaceX stock price one-week chart. Source: Google
Furthermore, the equity failed to sustain the climb above $170 recorded earlier in the month, though it remains 2.08% above its first closing price of $160.95 and 21.70% above the initial public offering ( IPO ) price of $135.
Featured image via Shutterstock
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