IRDM
RKLB
The bull case is still alive
Rocket Lab is back in the spotlight, and the message from the latest note is pretty simple: the market may be underestimating the company’s setup. The stock is being pitched as a Buy with about 24% upside, mostly because the “bad vibes” from the recent sell-off are getting outweighed by a few very real catalysts.
What’s doing the heavy lifting?
The thesis leans on three things that investors tend to love more than a fresh meme:
- Neutron’s Q4 2026 launch: that’s the bigger-racket rocket moment the company has been building toward.
- Iridium Communications acquisition: another piece of the future-revenue puzzle, if it closes and lands the way bulls expect.
- Backlog growth: more contracted work means more visibility, which is Wall Street’s version of comfort food.
The numbers aren’t exactly shy
The article also points to Rocket Lab’s Q2 2026 results, which showed 62% year-over-year revenue growth, improving margins, and a liquidity boost to $2.4 billion. Translation: the company isn’t just talking a big game — it’s also showing some operational muscle, which matters when you’re trying to convince the market you’re more than a cool space brand with a lot of launch footage.
Why investors should care
Rocket Lab is still in that tricky zone where the story is part aerospace, part balance-sheet chess match. If Neutron stays on track and the backlog keeps turning into actual revenue, the bull case gets a lot sturdier. If not, the stock can keep acting like a roller coaster with better branding.
Big picture: this is another reminder that RKLB is being priced like a promise, but the promise is getting more receipts than it used to.