On July 22, Rocket Lab USA, Inc. rose 5.03% in pre-market trading, trading at $72.678/share, with turnover of $15.64 million. The rally was driven by broad strength across space concept stocks and continued momentum from the company's $8 billion Iridium Communications acquisition.
Space sector names including SpaceX, AST SpaceMobile, and Iridium Communications have collectively advanced, creating a positive sector effect lifting Rocket Lab. The Iridium acquisition aims to build a vertically-integrated aerospace platform spanning launch, satellite manufacturing, and global satellite communications. Morgan Stanley maintains an Overweight rating with a bull-case target of $293. Additionally, the company secured a $266 million fixed-price US government contract for 12 suborbital launches, with work expected through December 2028.
The current rebound is also viewed as a recovery from earlier pressure caused by Piper Sandler's neutral initiation at an $83 target and CEO Peter Beck's significant share sales totaling approximately $465 million.
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