SpaceX (NASDAQ: SPCX) shares extended their rally in Tuesday pre-market trading, rising 1.22% to $173.17 as of this writing, after closing Monday up 7.63% at $171.09. Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and a $300 price target on Sunday, arguing that SpaceX looks materially cheaper than mega-cap AI peers once the valuation comparison accounts for expected growth.
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