Morgan Stanley loudly proclaims that physical AI and space will become the economy's "new electricity"! Overweight SpaceX (SPCX.US) with a price target of $300.

Zhitong Finance APP has learned that Morgan Stanley has released a research report on physical AI, space, and SpaceX (SPCX.US), arguing that the robotics and space industries will reshape the global economic landscape, with a role comparable to that of electricity in the modern economy. The bank gave SpaceX an Overweight rating with a target price of $300, implying significant upside from the current price. The bank noted that current market pricing only reflects the value of Starlink and the spaceflight business, while the option value of enterprise AI and orbital computing is almost entirely unpriced in the stock, but it also cautioned that the industry faces multiple uncertainties, including technological iteration, geopolitics, and commercialization falling short of expectations, and investors need to take a dialectical view of the long-term industrial opportunities.