Rocket Lab shares surge over 8%: What's driving the RKLB rally?

Shares of Rocket Lab (RKLB) jumped 8.2% to $69.89 on September 21, after Cantor Fitzgerald reiterated its Overweight rating and $122 price target. The rally came as investors focused on the company’s upcoming Neutron rocket launch and the planned Iridium acquisition. (Source: TradingView, Pluang, Investing.com)

Cantor Fitzgerald analyst Andres Sheppard reiterated the $122 target, highlighting two major potential catalysts: Rocket Lab’s maiden Neutron medium-lift rocket mission and the completion of its Iridium acquisition. Rocket Lab is targeting Neutron’s first launch later this year, while the Iridium transaction is expected to close in mid-2027, subject to regulatory approvals and other conditions.

Rocket Lab completed its 96th Electron mission on September 19, marking its 17th launch of 2026. The mission deployed Synspective’s 12th StriX satellite into a 572-km orbit. Cantor also pointed to Rocket Lab’s dedicated launch infrastructure, diversified customer base and expanding rocket portfolio as factors supporting its growth outlook.

Rocket Lab recently completed a $1.944 billion at-the-market share offering, issuing about 29.3 million shares. The proceeds, together with Iridium’s existing term loan and other cash, are intended to fund the acquisition. The planned deal would combine Rocket Lab’s launch and spacecraft businesses with Iridium’s satellite communications network, potentially broadening the company’s revenue base.

Neutron and Iridium could reshape Rocket Lab's growth story. The company is entering a period marked by several potential catalysts, including the Neutron debut, the Iridium transaction and continued Electron launches. Rocket Lab also reported a record $2.36 billion backlog, while its Q2 2026 results showed continued revenue growth and improving launch economics.
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