BREAKING: Citi analyst John Godyn has once again reiterated his Buy rating on SpaceX.

• Maintained its $200 price target

• Raised its 2026 and 2027 forecasts

• Said SpaceX’s Q2 results exceeded expectations across key financial and operational areas

• Believes the strong performance was driven by lasting growth, not a one-time boost

• Expects SpaceX to outperform peers as it expands AI computing capacity

• Sees future Starship milestones as the path toward a much higher long-term valuation