SpaceX to Continue Sharing 'Ambitious' Updates as Interest Around Potential Tesla Merger Grows, RBC Says

12:46 PM EDT, 10/19/2026 (MT Newswires) -- SpaceX (SPCX) is likely to continue sharing "ambitious" updates across the business with its upcoming financial results amid increasing investor interest around a potential merger with Tesla (TSLA), RBC Capital Markets said in a note e-mailed Monday. Last week, SpaceX said it will report its third-quarter results after the markets close Tuesday. Most investors were expecting the report to be out sometime in November, according to RBC. The rocket and satellite company is expected to continue to bring aggressive operational objectives forward, especially after it indicated in the previous quarter that it was targeting revenue of $1 trillion by 2030, the brokerage said in the note to clients. "We anticipate positive commentary from (SpaceX) management, with a continued sense of urgency and further pull forward out-year goalposts," RBC analysts, including Ken Herbert, wrote. Investors are also likely to focus on any clues or indication on a potential combination between SpaceX and electric vehicle maker Tesla, according to RBC. Last week, Tesla unveiled its new Roadster vehicle, which uses SpaceX thrusters to propel itself in the air. Both Tesla and SpaceX are headed by Elon Musk. SpaceX went public in June. A merger between SpaceX and Tesla at about $480 a share could create a combined $3.74 trillion entity, representing a "compelling" scenario for both companies given the "vertical integration from orbit to ground ecosystem" it can create, RBC said. "The Terafab chip collaboration alone could generate over $1 (trillion) in cost savings by 2050, and while timing remains uncertain, we see meaningful synergy potential and view (SpaceX) shares as not fully reflecting intrinsic value," the analysts wrote. RBC maintained its outperform rating on the SpaceX shares with a $225 price target. SpaceX shares were up 2.1% in Monday afternoon trade, while Tesla rose 4.1%. For the third quarter, RBC expects SpaceX to post revenue of $12.59 billion, while the current consensus on FactSet is for $12.87 billion. The brokerage projects adjusted earnings before interest, taxes, depreciation and amortization at $7.26 billion, while Wall Street is looking for $6.42 billion. Investors are also likely to focus on SpaceX's recent agreement to acquire a nationwide portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band from investment firm Grain Management, as part of its efforts to establish Starlink Mobile as a major US mobile carrier. The proposed acquisition and the recent approval by the Federal Communications Commission of Starlink Mobile's Gen2 constellation application for the launch of 15,000 satellites significantly strengthens its ability to compete with major carriers by enabling broader and deeper coverage, according to RBC. The pricing opportunity across Starlink could be a tailwind for connectivity margins, the brokerage said. Tesla is expected to report its third-quarter financial results Wednesday. Price: 150.21, Change: +4.18, Percent Change: +2.86