JPMorgan Reaffirms Overweight Rating and $240 Price Target for SpaceX

JPMorgan has reaffirmed its overweight rating and $240 price target for SpaceX (SPCX.O), citing increased confidence in the prospects of Grok AI. The firm noted that SpaceX's acquisition of Cursor, which has an annual recurring revenue (ARR) of approximately $4 billion, with 75% coming from enterprise business. JPMorgan expects that Cursor will enhance SpaceX's enterprise AI strategy, model training data, and the performance of Grok.

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