Morgan Stanley: SpaceX could be a $175 billion company if Elon Musk's Starlink internet plan works

A SpaceX Falcon 9 rocket lifts off from Cape Canaveral Air Force Station carrying 60 Starlink satellites on November 11, 2019 in Cape Canaveral, Florida. The Starlink constellation will eventually consist of thousands of satellites designed to provide world wide high-speed internet service.
Paul Hennessy | NurPhoto | Getty Images

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Morgan Stanley on Monday updated its long-term valuation estimate for Elon Musk's SpaceX, in a deep-dive research report that says the company's value could soar if its ambitious satellite internet network succeeds. 

SpaceX's valuation could reach as high as $175 billion in Morgan Stanley's most optimistic "bull case" scenario, the firm said.

The private space company currently has a valuation at about $36 billion and Morgan Stanley expects that to reach $50 billion in its "base case," or most likely, scenario. But, if the wheels fall off SpaceX's several current projects, the Morgan Stanley team of analysts say the company's valuation would fall as low as $200 million in a "bear case" scenario.