Morningstar lifted its fair value estimate for SpaceX to $70 from $62, driven by Q3 revenue growth of 161% and a fivefold sequential increase in AI revenue. Starlink operating profit reached $2.4 billion. Analyst Nicolas Owens flagged potential merger with Tesla but said it is not inevitable. SpaceX stock declined about 2% early Thursday and remains below its 50-day moving average.
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