Oppenheimer lifted SpaceX’s price target to $250 from $190, implying 26% upside, citing its $60B Cursor acquisition and vertically integrated AI stack. The firm forecast Cursor’s ARR climbing from $1B in 2025 to $6B by end-2026 and raised Q4 AI revenue estimates to $8.75B.
Oppenheimer increased its price target on SpaceX to $250 from $190, reflecting a 26% upside potential. The firm maintained an Outperform rating and cited improved visibility into AI strategy following the Cursor acquisition.
SpaceX agreed to acquire AI coding firm Cursor in a $60 billion stock deal, gaining agentic coding tools, a software layer for large language models and access to over one million developers. This transaction is expected to strengthen SpaceX’s AI flywheel and engineering leverage.
The firm projected Cursor’s annual recurring revenue rising from $1 billion in 2025 to $6 billion by end-2026, and lifted SpaceX’s Q4 AI revenue estimate to $8.75 billion from $4.75 billion. Analysts highlighted that vertical integration across compute, models, data and applications should support long-term margin expansion.
