Overview
- Rocket Lab said it won a $190 million award for 20 hypersonic test flights using its HASTE vehicle under the MACH‑TB 2.0 program, the company’s largest launch contract and a driver that lifted total backlog above $2 billion.
- Clear Street opened coverage with a Buy rating and an $88 price target, pointing to the Neutron rocket, leadership in small‑lift launches, and Space Systems hardware as the main growth engines.
- Deutsche Bank earlier raised its price target to $73 and kept a Buy, showing broader analyst support following stronger results and expanding contract visibility.
- The Neutron medium‑lift rocket is slated for a first flight in the fourth quarter of 2026 after a delay tied to a manufacturing defect, and a successful debut would move Rocket Lab into the Falcon 9‑dominated launch class.
- The company posted 21 launches and $602 million in 2025 revenue, while Wall Street projects about $850 million this year and $1.2 billion next year as shares have surged roughly 1,600% to a market value near $38 billion, stoking a debate over price versus progress.