Rocket Lab (RKLB) Stock Jumps 2% on Space Force Contract Win

TLDR

• Rocket Lab stock rose 2.3% to $82.08 after Viasat selected it to build a satellite bus for the U.S. Space Force’s Protected Tactical SATCOM-Global program.
• Stifel analyst Erik Rasmussen called the Viasat deal an eight-figure opportunity, and rates RKLB a Buy with a $132 price target.
• Q2 revenue came in at $234.1 million, up 62% year over year, but the company missed EPS estimates with an adjusted loss of $0.08 vs. the expected $0.06 loss.
• Rocket Lab has roughly $2.36 billion in backlog and recently deployed eight satellites for MDA Space and Globalstar under a $143 million contract.
• 82% of analysts covering the stock rate it a Buy, with an average price target of around $117, though insider selling over the past 90 days has been a drag on sentiment.

Rocket Lab (RKLB) stock climbed 2.3% to $82.08 on Monday after Viasat chose the company to build a satellite bus for the U.S. Space Force. The contract is part of Viasat’s Protected Tactical SATCOM-Global program, which uses commercial providers for secure military satellite communications.

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