Shares of aerospace and defense company Rocket Lab (NASDAQ: RKLB) surged 8.2% in afternoon trading after Cantor Fitzgerald reaffirmed its bullish stance on the stock with a $122 price target.
Cantor Fitzgerald analyst Andres Sheppard stated that the firm remains bullish and considers current price levels an attractive entry point, according to StreetInsider.
The $122 price target represents approximately 89% upside potential from current trading levels, making it one of the more ambitious targets among analysts covering the stock.
Sheppard pointed to two primary upcoming catalysts that underpin the firm’s confidence: the maiden launch of Rocket Lab’s Neutron medium-lift rocket and the completion of the Iridium acquisition.
Cantor Fitzgerald also cited Rocket Lab’s operational execution following the company’s 96th Electron mission as evidence of its growing technical maturity.
The firm highlighted dedicated launchpads, a diverse customer base, an expanding rocket portfolio, and a proven space launch track record as significant competitive moats setting the company apart from rivals.
Rocket Lab’s shares are extremely volatile, having logged 89 moves greater than 5% over the last year alone, placing today’s gain in a broader context of sustained price swings.
The stock’s most dramatic single-day move over the past year came five months ago, when shares gained 30.6% after the company reported first-quarter 2026 revenue of $200.3 million, representing 63.5% year-on-year growth that topped Wall Street estimates.
That quarterly report also featured second-quarter guidance of approximately $232.5 million in revenue, well ahead of the consensus estimate of $207.6 million, along with a projected positive adjusted EBITDA of $23 million compared to the $15.14 million loss analysts had anticipated.
Despite today’s gains, Rocket Lab remains down 8.2% since the start of the year, trading at $69.79 per share and sitting 53.5% below its 52-week high of $150.23 reached in May 2026.
Investors with a longer time horizon have fared considerably better, with a $1,000 investment made five years ago now worth approximately $4,823.
The Neutron rocket program remains one of the most closely watched developments in the commercial launch sector, with its maiden flight expected to be a key inflection point for the company’s medium-lift market ambitions.
