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00:02Morgan Stanley analyst Adam Jonas said investors are underestimating the scale of SpaceX's
00:08Starship expansion after the company unveiled a $100 billion spaceport project in Louisiana.
00:15Jonas reiterated an overweight rating and $300 price target, implying more than 70% upside
00:21from Tuesday's close.
00:22Jonas said investors are underestimating the scale of SpaceX's Starship plans.
00:27The planned Vermilion Parish facility could eventually include 15 launch pads and support
00:32thousands of launches annually.
00:34Morgan Stanley estimates SpaceX would need only 8 pads to reach its 2040 forecast of roughly
00:405,800 Starship launches per year.
00:44Jonas also called SpaceX attractively valued based on fiscal 2028 forecasts.
00:49Shares were up 0.81% at $139.07 Wednesday, below their post IPO high above $225, according
00:59to Benzinga Pro.
01:00For all things money, visit Benzinga.com.
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