Wall Street investment bank Raymond James gives SpaceX a sky-high target price of $800, and white-haired stock guru Serenity mocks: "Is this written as a joke?"

A company's valuation is looking at $10 trillion? Wall Street investment bank Raymond James today (7th) released an extremely shocking analysis report on the newly listed SpaceX, not only giving it a "Strong Buy" rating but also setting the highest target price on Wall Street at $800, directly pointing to the Starship igniting a $30 trillion infrastructure revolution. However, this report, which pushes SpaceX's valuation to a sky-high $10 trillion, immediately sparked mockery on social media platforms, with retail investors ridiculing it as a "joke written by institutions."

(Previous summary: SpaceX officially renamed to SpaceXAI, Musk ties space and AI together) (Background supplement: Making an exception for SpaceX! Nasdaq changes rules, triggering $4.3 billion in passive buying tonight, Wall Street slams: Shameless structural manipulation)

Table of Contents

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• Analyst's Extreme Optimism: Starship is the Key to a $30 Trillion Opportunity
• Raymond James' "Rampant" Financial Forecast for SpaceX
• Community Mockery: An Institutional Joke for Retail Investors?

Is Wall Street seeing a future that retail investors can't, or have institutional valuation models completely spiraled out of control?

According to the latest report from Yahoo Finance today (7th), Raymond James analyst Brian Gesuale initiated coverage on the newly IPO'd space exploration technology company (SpaceX, ticker: SPCX) for the first time. He made a shocking market move, giving SpaceX a "Strong Buy" rating and setting a target price as high as $800.

Based on SpaceX's current stock price of around $160, this implies the investment bank believes this behemoth still has upside potential of up to 400%, with an implied valuation approaching a staggering $10 trillion.

Analyst's Extreme Optimism: Starship is the Key to a $30 Trillion Opportunity

In Raymond James's report, Gesuale hailed SpaceX as "one of the most defining industrial infrastructure companies of the 21st century." He believes that the combination of industrialized orbital access capabilities and AI is driving the most significant infrastructure convergence since the birth of the internet.

The core thesis of this optimistic report is built on the disruptive innovation of the "Starship." The analyst points out that Starship can reduce the cost of delivering mass to orbit by more than 99% while increasing payload capacity by an order of magnitude. This will transform space launches from expensive "custom aerospace missions" into a "routine transportation network" similar to commercial aviation. Gesuale estimates that the resulting total addressable market (TAM) will approach $30 trillion:

"It's like the historical revolutions of railroads, electrification, containerization, or the internet."

Raymond James' "Rampant" Financial Forecast for SpaceX

To support its $800 target price, Raymond James painted an extremely steep growth curve, with financial projections for 2031 that left many traditional value investors stunned:

| Financial / Operational Metrics | | --- | Current Status (2026 Estimate) | Bank's Rampant Forecast (2031) | | --- | --- | --- | | Total Revenue | Approx. $38.5 billion | Over $837 billion | | EBITDA | Approx. $17.7 billion | Over $696 billion | | Pricing Basis (Valuation Model) | Based on a 27x exit multiple on 2031 estimated EBITDA to calculate the $800 target price. | | | Infrastructure Flywheel Effect | Falcon rockets fund Starlink ➔ Starlink funds Starship ➔ Starship launches the next-generation industrial platform. | |

Community Mockery: An Institutional Joke for Retail Investors?

However, this report, which paints a rosy picture for the next five years, did not earn respect from the financial community. Instead, it encountered relentless ridicule.

On platform X, white-haired stock guru Serenity (@aleabitoreddit) posted a screenshot of the report and wrote helplessly: "No words. This kind of 'institutional' report for retail investors is a joke in itself."

Raymond James initiated coverage of $SPCX with “Strong Buy”.

Giving it a $800 PT, valuing SpaceX at a ~$10T valuation.

No words. Jokes about “institutional” notes for retail write themselves. pic.twitter.com/B0uRojaNJZ

— Serenity (@aleabitoreddit) July 7, 2026

The post quickly resonated, with the comment section below filled with doubt and sarcasm. Many netizens believed that calling a company's valuation up to $10 trillion (equivalent to nearly three times Apple's current market cap) and basing it on commercialization scale and profit margins that haven't yet been fully realized was a typical "sell-side fluff." One netizen joked that the analyst might have "accidentally added two extra zeros," while another quipped that the style of the report was like "Cathie Wood possessed."

Against the backdrop of passive funds tracking the Nasdaq-100 being forced to swallow $4.3 billion worth of SpaceX stock at a high premium just yesterday, the investment bank immediately releasing this sky-high target price report. It's no wonder market veterans see it as a promotional tool for "dumping" shares for early investors. Until the Starship truly achieves normalized profitability, this $10 trillion dream will likely struggle under the test of gravity for quite some time.