SpaceX Rises 4% as Pivotal Research Launches Coverage at $220, Intuitive Machines Climbs 5%, Rocket Lab Gains 3%

SpaceX (NASDAQ:SPCX | SPCX Price Prediction) drew fresh Wall Street coverage Tuesday morning, and the initiation is sending shares of the newly public rocket and satellite operator higher alongside a broad bid across the space complex. Pivotal Research Group launched coverage with a Buy rating and a target that sits well above where the shares trade, giving investors a rare institutional data point on a name that only began trading this year. SpaceX’s peers are joining the move, though the size of their gains varies enough to suggest more than one factor is at work.

SpaceX stock is up 4% to $153.46 in Tuesday afternoon trading, extending a 42% run over the past month. Meanwhile, Intuitive Machines (NASDAQ:LUNR) stock is climbing 5% to $15.61, outpacing SpaceX on the day. Rocket Lab (NASDAQ:RKLB) shares are rising 3% to $66.24, riding the same tailwind. For a read on the space sector, the Procure Space ETF (NASDAQ:UFO) is up 1% to $44.24.

Pivotal Research Launches SPCX Stock at $220

Jeffrey Wlodarczak at Pivotal Research Group initiated SpaceX stock with a Buy rating and a $220 price target, a level that sits well above the current quote. The initiation anchors a public bull case to demand across SpaceX’s AI compute, Starlink connectivity, and launch businesses. SpaceX reported Q2 2026 revenue of $7.81 billion, and its AI segment revenue climbed 247% year over year (YoY) to $2.56 billion.

The bear-case counterweight has to do with share supply. SpaceX only recently completed its initial public offering, and lock-up expiration schedules for insider and pre-IPO holders remain the key overhang traders are trying to size. That timing isn’t publicly established here, which leaves the risk genuinely unresolved rather than settled by a single research note. Retail traders may need to weigh a Buy rating and a target well above the current quote against the prospect of additional supply reaching the market later.

Peers Move on a Broader Space Bid

Peer strength points to a broader theme across space names. Intuitive Machines stock is outpacing SpaceX stock today, which suggests the space complex is broadly bid rather than one research note doing all the work. Intuitive Machines stock is down 4% year to date (YTD) despite the rally, and its $1.76 billion backlog and reaffirmed $900 million to $1 billion 2026 revenue guidance frame a national security pipeline anchored by an 18-spacecraft Golden Dome award.

Rocket Lab stock is down 5% YTD, a reminder that the smaller launch pure play has lagged the rally that has lifted SpaceX and Intuitive Machines. However, Rocket Lab’s $2.36 billion backlog and Q4 2026 Neutron launch pad delivery target keep its own catalyst path intact. Rocket Lab CEO Peter Beck’s team has also closed component and manufacturing acquisitions this year, broadening the company’s space systems base beyond launch revenue.

What to Watch

The Pivotal Research initiation gives SpaceX stock bulls a public target to point to, but the lock-up question and share supply remain the swing factor for the stock. Investors can watch for additional sell-side firms initiating coverage of SpaceX, since a second or third Buy rating would validate the setup independent of one voice.

Shareholders may want to keep an eye on whether the space complex holds its bid if the SpaceX initiation trade cools. Position sizes in SPCX stock should reflect the volatility that has come with SpaceX’s short trading history and its unresolved insider supply picture.

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