Cantor lifts Rocket Lab’s (RKLB) Target After Record 2025 Revenue, Launch Cadence, And a Backlog Stacked Toward Space Systems

Core Insights - Rocket Lab USA, Inc. has been identified as one of the best space stocks to buy, with a price target raised to $85 from $72 by Cantor Fitzgerald, maintaining an Overweight rating [1] - The company achieved a record revenue of approximately $602 million for fiscal 2025, reflecting a year-over-year growth of about 38% [1] - Rocket Lab successfully completed 21 launches in fiscal 2025, including a record seven launches in the fourth quarter [2] Financial Performance - The fiscal 2025 revenue of $602 million exceeded both consensus expectations and management guidance [1] - Analysts project continued revenue growth for fiscal 2026, building on the strong performance of fiscal 2025 [1] - The company's contracted backlog stood at approximately $1.85 billion as of Q4 2025, with 74% of this revenue linked to Space Systems and 26% to Launch services [2] Operational Highlights - Management anticipates recognizing roughly 37% of the backlog as revenue within the next 12 months [2] - The SDA Tranche 3 award, valued at a potential $805 million, is noted as Rocket Lab's largest contract to date [2] - The debut of the Neutron launch vehicle has been delayed to Q4 2026, as indicated by another firm [2] Company Overview - Rocket Lab provides launch services primarily through its Electron rocket and develops space systems, including satellites and spacecraft components, while also working on the larger Neutron launch vehicle [3]