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Jabran Kundi

Elon Musk Is Coming for Your Phone Bill. Here's What Has to Go Right First.

Elon Musk SpaceX Starship Starlink Mobile SPCX Starlink Satellites AT&T Morgan Stanley Pivotal

Two Wall Street firms put out bullish notes on SpaceX (SPCX) on Oct. 11 and 12, and they’re more connected than they first appear. Pivotal Research raised its price target from $220 to $230 and kept a Buy rating. It believes SpaceX’s planned purchase of 800 MHz spectrum licenses could help Starlink compete with AT&T (T), Verizon (VZ), and T-Mobile (TMUS) as a phone carrier. It builds on SpaceX's roughly $20 billion deal for EchoStar's (ECHO) spectrum, agreed in 2025 and set to close fully in 2027. Pivotal expects Starlink Mobile to reach 50 million U.S. subscribers by 2036, about 13% of the market. Meanwhile, Morgan Stanley reiterated its $300 target ahead of Starship Flight 15, tentatively set for Nov. 8.

Why the Phone Plan Depends on the Rocket

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