According to a research report published by Citi, SpaceX's third-quarter results were better than expected, and key indicators such as revenue, gross profit, and adjusted EBITDA of the three major businesses all exceeded the bank's forecasts. Citi raised SpaceX's target price from $200 to $240, reaffirming the “buy” rating. Management's revenue guidance for the first quarter of next year ranges from $33 billion to $37 billion, which is more than $10 billion higher than market expectations of about $23 billion. The bank sharply raised the company's earnings estimates per share next year, from $2.14 to $3.25.

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