Report published September 29, 2026

Space Exploration Technologies Corp. (SPCX): Starship Flight 14 - Goldman Sachs Equity Research

Goldman Sachs · September 29, 2026

Goldman Sachs reiterates its Buy rating and $220 price target on Space Exploration Technologies Corp. (SPCX) following Starship Flight 14. The flight achieved major milestones including first orbital insertion, deployment of 26 Starlink V3 satellites, and successful deorbit and soft landings, reinforcing the vehicle's long-term commercial potential despite minor Raptor engine outages.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Starship Flight 14 reached orbit for the first time and achieved key milestones including deploying 26 Starlink V3 satellites, a successful deorbit burn, and a soft landing.
2.Engine outage issues occurred during both booster ascent/boostback and ship orbital insertion, highlighting Raptor engine reliability as a key focal point ahead of Flight 15.
3.Goldman Sachs reiterates a Buy rating on SPCX with an unchanged 12-month price target of $220, citing a compelling 2.5:1 risk/reward skew and multi-trillion-dollar addressable opportunities across space, connectivity, and AI.

Flight Recap & Time Stamps
Valuation & Risks

Report data

Exhibit 1: Starship Flight 14 Critical Time Stamps — as of September 28, 2026.

Metric	Estimate	Context
12-Month Price Target	220.0 USD	Goldman Sachs reiterated 12-month price target for SPCX based on sum-of-the-parts valuation.
Closing Share Price	145.47 USD	Share price of SPCX as of September 28, 2026 close.
Price Target Upside Potential	51.2%	Calculated upside potential to the $220 price target.
Risk/Reward Skew	2.5 ratio	Estimated risk-to-reward ratio on SPCX shares.
Starlink V3 Satellites Deployed	26 satellites	Operational Starlink V3 satellites deployed into orbit during Flight 14.

Source: Goldman Sachs Global Investment Research; FactSet; Goldman Sachs Research estimates; Company data. This is a dated model snapshot, not a live forecast.