BULLISH: JPMorgan Sees Bigger AI Opportunity for $SPCX, Reiterates $240 PT

JPMorgan says $SPCX's AI opportunity is getting bigger, reiterating its Overweight rating and $240 price target. The firm sees the company's acquisition of Cursor as a major catalyst.
The coding platform reportedly generates $4 billion in annual recurring revenue, with 75% coming from businesses. JPMorgan expects Cursor to supercharge the company's enterprise AI push, unlock valuable training data, and accelerate Grok's performance.