Elon Musk stated he is "trying to do the right thing" after former Ukrainian Defense Minister Mykhailo Fedorov credited Space Exploration Technologies Corp. (NASDAQ: SPCX) with blocking unauthorized Russian use of Starlink in Ukraine. Fedorov said the intervention protected the country’s air defenses and saved civilian lives.

"Trying to do the right thing. I hope there is peace soon," Musk wrote on X on Monday in response to Fedorov’s praise.

Ukraine Credits SpaceX With Saving Lives

In a CBS News interview on Monday, Fedorov called Musk "probably the most important tech person and entrepreneur in the world for our country." He said Musk and SpaceX, by shutting down Russia’s illegal Starlink use on Ukrainian territory, "protected our air defense, saved our air force, and spared thousands of civilian lives."

Fedorov also told CBS that he remains in contact with Musk as Ukraine considers whether Starlink could help target Russian ballistic-missile launchers. "We need to defeat Russia in every technological cycle, and we have to make decisions 24/7," he said.

Starlink Crackdown Disrupts Communications

Ukraine’s relationship with Starlink dates to Russia’s 2022 invasion, when Fedorov publicly appealed to Musk to activate the service. Musk responded within hours, and Ukraine now uses tens of thousands of terminals for battlefield communications and some drone missions. Musk later broadened Starlink’s permitted use to "anything to help Ukraine."

According to a Reuters source, the crackdown disrupted Russian communications and helped shift battlefield momentum. Ukraine now faces a new threat as Moscow accelerates its Rassvet satellite network, which Kyiv warns could eventually operate "like Starlink." A report last week said Russia targets 292 satellites by 2027 and 924 by 2035.

Past Limits Shadow Cooperation

Musk’s role has not always aligned with Kyiv. Reuters reported he ordered Starlink coverage restricted during a 2022 Ukrainian counteroffensive amid fears of nuclear escalation. SpaceX later disputed that account and has said Starlink remains committed to Ukraine.

Fedorov nevertheless described the latest cooperation as "an invaluable contribution to our defense."

UBS analyst John Hodulik has maintained a Buy rating on SpaceX (NASDAQ: SPCX), keeping the price target at $210. The broker reaffirmed its stance in a recent note, signaling continued confidence in the company's valuation.

Analyst View

The research team at UBS continues to see upside potential for SpaceX shares relative to the current market price. Hodulik’s maintenance of the Buy rating suggests that the fundamental drivers supporting the previous valuation remain intact.

SpaceX remains in focus for investors tracking the commercial space sector, with UBS’s stance providing a benchmark for institutional sentiment.