Rocket Lab USA(US:RKLB) Zhi Tong Cai Jing·2025-08-11 07:53Core Viewpoint - Goldman Sachs has issued a "Neutral" rating for Rocket Lab (RKLB.US) with a target price of $32, highlighting that the company's 2025 revenue exceeds expectations while adjusted EBITDA and EPS meet forecasts [1] Group 1: Financial Performance - Rocket Lab's 2025 revenue has surpassed expectations, indicating strong future growth potential [1] - Adjusted EBITDA and earnings per share (EPS) are in line with expectations, reflecting stable financial performance [1] Group 2: Product Development and Market Position - The company is expected to launch its medium rocket Neutron by the end of this year, although the timeline is challenging and dependent on limited factors [1] - Management provided positive updates regarding Neutron's manufacturing capabilities, progress, and demand [1] - The space systems business is experiencing rapid growth, with Neutron anticipated to further drive this sector [1] Group 3: Market Dynamics - The launch market is constrained in supply, positioning Rocket Lab favorably in both launch and space systems [1] - The company is currently in the development phase of Neutron, which presents significant risks that are difficult to underestimate [1]