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On Monday, Cantor Fitzgerald reaffirmed its confidence in Rocket Lab USA (NASDAQ:RKLB), maintaining an Overweight rating and a $24.00 price target for the aerospace manufacturer and smallsat launch service provider. Rocket Lab, recognized as the second most frequently launched rocket company in the United States, trailing only SpaceX, and the leader among publicly traded entities, is poised to benefit from any potential backlash against SpaceX due to CEO Elon Musk’s controversial political stances. Analysts at Cantor Fitzgerald suggest that Rocket Lab’s Neutron launch vehicle, which is expected to be comparable to SpaceX’s Falcon 9, may see increased interest.
Rocket Lab’s proprietary launchpads are noted as a significant advantage for the company, offering increased flexibility for launch windows. The company has a track record of more than 60 successful missions, with 16 of those occurring in 2024 alone. This operational success has translated into strong financial performance, with revenue growing 78.3% to $436.2 million in the last twelve months. During the recent Space Symposium, Rocket Lab’s management confirmed that they are on schedule to finish the Neutron Rocket’s construction and to proceed with the initial launch by the second half of 2025, anticipated to be in the fourth quarter.
The successful completion and test-flight of the Neutron Rocket are seen as pivotal events for Rocket Lab. A successful test-flight would enable the company to start competing for Neutron customer contracts as early as 2025 or the beginning of 2026. Rocket Lab’s progress and strategic positioning underscore its potential growth in the aerospace sector as it continues to expand its launch capabilities. While currently trading above its InvestingPro Fair Value, the company maintains a Fair financial health score and shows strong growth potential. For deeper insights into Rocket Lab’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, covering this and 1,400+ other top US stocks.
In other recent news, Rocket Lab USA announced the introduction of its new STARRAY solar arrays, designed to meet varying power needs for satellites with customizable options ranging from 100 watts to over 2,000 watts. The company highlighted its unique position in vertically integrated solar array manufacturing, emphasizing its ability to provide mission-specific customization with short lead times and reduced costs. Additionally, Rocket Lab’s solar solutions, which have powered over 1,100 satellites, are part of various significant space programs, including NASA’s Artemis missions.
Cantor Fitzgerald reaffirmed its Overweight rating and $24 target for Rocket Lab, citing confidence in the company’s market position and future prospects. The firm noted Rocket Lab’s progress on its Neutron rocket, set for an initial launch in 2025, which could position the company as a competitor to SpaceX in the medium-large launch market. Stifel analysts also maintained a Buy rating and a $27 target, following Rocket Lab’s inclusion in the U.S. Space Force’s National Security Space Launch program. This selection involves a $5 million task order and positions Rocket Lab among five launch providers chosen for critical security missions.
These developments come amid broader industry concerns following a proposed budget cut to NASA’s Science Mission Directorate, which could impact companies contracting with NASA. Despite these challenges, Rocket Lab’s continued advancements and strategic contracts highlight its potential in the expanding space economy.
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