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.
— SpaceX (@SpaceX) October 8, 2026
With this new spectrum and our Gen2 constellation, Starlink Mobile can ensure Americans have access to… pic.twitter.com/uVktZ0g3tu
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.
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.
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.
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