Rocket Lab USA Inc. (NASDAQ:RKLB) shares are climbing on Wednesday, extending a rally fueled by record-breaking quarterly results.
The stock recently hit an all-time high of $123.94 before seeing brief profit-taking. The Nasdaq is down 0.06% while the S&P 500 has shed 0.18%.
Needham Boosts Price Forecast
On Monday, Needham analyst Ryan Koontz reaffirmed a buy rating for the space leader, raising the price forecast from $95 to $120.
This move followed first-quarter revenue of $200.35 million, which landed 5% above consensus estimates. Koontz highlighted a record $2.2 billion backlog, including a significant HASTE contract with Anduril.
The SpaceX IPO Factor
A potential SpaceX IPO in mid-2026 is creating a proxy bid for liquid space names. Rocket Lab CFO Adam Spice noted that a SpaceX listing will separate “haves and have-nots.”
“What’s going to happen is the good companies are going to get dragged up by SpaceX,” Spice told retail investors. “And I think the less quality names …
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