Cantor Raises Rocket Lab Price Target to $85 After Record $602M Revenue
Cantor Fitzgerald raised Rocket Lab's price target to $85 from $72 after the company reported record fiscal 2025 revenue of $602 million, a 38% year-over-year increase. Its backlog reached $1.85 billion, including an $805 million Tranche 3 award, with management predicting 37% conversion to revenue in 12 months despite Neutron debut slipping to Q4 2026.
1. Price Target Raised to $85
Cantor Fitzgerald boosted Rocket Lab's price target to $85 from $72, maintaining an Overweight rating following record fiscal results and a strengthened backlog.
2. Record Fiscal 2025 Revenue and Launch Cadence
Rocket Lab achieved a record $602 million in fiscal 2025 revenue, marking 38% year-over-year growth, and completed 21 successful launches including seven in Q4, surpassing management guidance and market expectations.
3. Backlog Expansion and Neutron Delay
The company's contracted backlog climbed to $1.85 billion—anchored by an $805 million Tranche 3 award—with management expecting 37% to convert into revenue within 12 months, while the debut of the Neutron vehicle slipped to Q4 2026 due to testing issues.