Rocket Lab Stock Jumps After $2.2B Backlog and New Multi-Launch Deal
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Rocket Lab Corp. shares rose about 6% following a positive analyst note and contract wins, reaching a record high. Needham raised its price target to $120 from $95, maintaining a Buy rating after the company reported first-quarter revenue of $200.35 million and a $2.2 billion backlog. The new multi-launch contract includes five Neutron and three Electron missions. Investor interest is also fueled by the potential SpaceX IPO in 2026, although some technical indicators suggest the stock may be overextended after its recent gains.
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