Rocket Lab Corp. (NASDAQ:RKLB) shares traded higher on Tuesday following a volatile session on Monday, as investors digested the company’s third-quarter of 2026 results and a wave of analyst updates issued after the earnings report.
• Rocket Lab stock is building positive momentum. Why are RKLB shares climbing?
Cantor and BTIG issued analyst updates following the company’s third-quarter results on Tuesday.
Cantor analyst Andres Sheppard kept an Overweight rating and lowered his price forecast to $111 from $122. BTIG analyst Andre Madrid kept a Neutral rating. Madrid cited the stock’s premium to space peers and the remaining risk around Neutron, Rocket Lab’s planned medium-lift rocket.
Launch Supply Tightens
Sheppard writes that the orbital launch market is “supply constrained.” He says Rocket Lab’s launch record sets it apart, particularly because few alternatives exist for small and medium vehicles.
He notes Space Exploration Technologies Corp (NASDAQ:SPCX), also known as SpaceX, no longer accepts commercial Falcon 9 bookings beyond 2028. He describes Rocket Lab as the “clear #2” Western launch provider and says this could let it raise prices. Rocket Lab now lists a base Neutron price of $70 million per launch, up from $55 million.
The analysts see the company’s backlog, which is its contracted future work, as supporting the demand argument. Backlog reached about $3.6 billion, up 52% from the prior quarter, according to BTIG.
Neutron Timing Slips
Both analysts say Neutron’s first launch has moved back after a manufacturing issue. Sheppard now expects it in the second quarter of 2027, with the first revenue-generating flight in the fourth quarter. Madrid writes that the debut has moved to the first half of 2027. Sheppard says the delay does not change his long-term thesis.
Madrid points to a $150 million conditional loan commitment from the Office of Strategic Capital. He says it shows the Pentagon increasingly views Rocket Lab as important to the defense industrial base.
Valuation Divides Analysts
Madrid says Rocket Lab trades at 24 times consensus 2027 sales, against a market cap-weighted 10.5 times for peers. He says a premium is reasonable given the growth, but he remains cautious until Neutron progresses.
Sheppard calls the current level a “great entry point.” He says the pending Iridium Communications acquisition, which management targets to close by mid-2027, should roughly double annual revenue.
Sheppard lists additional Neutron delays among his key risks.
RKLB Stock Price Activity: Rocket Lab shares were up 2.38% at $60.26 at the time of publication on Tuesday, according to Benzinga Pro data.
Photo: Piotr Swat / Shutterstock
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