Four Launches From 100: Rocket Lab Gets a Bullish New Call, With Iridium and Mynaric Along for the Ride

Rocket Lab Corporation (NASDAQ: RKLB ) is approaching a milestone, and Wall Street recently offered it a new vote of confidence that extends beyond the company's own rockets. Raymond James launched coverage of RKLB on September 11 with an Outperform rating and a $80 price target, implying a roughly 29% increase from current levels, and pointed out specific growth levers that link the launch company's fortunes directly to two other names central to its expansion: Mynaric, which it acquired in April, and Iridium Communications Inc. (NASDAQ: IRDM ).

On September 11, Rocket Lab Corporation (NASDAQ:RKLB) successfully completed its 16th Electron mission of 2026, launching an Earth-observation satellite into a 500-kilometer low-Earth orbit for a confidential customer from Launch Complex 1 in New Zealand. Rocket Lab has since completed another Electron mission on September 19, bringing its total to 96 launches, and brings Rocket Lab closer to breaking its annual launch record of 21, set in 2025.

Rocket Lab Corporation (NASDAQ:RKLB), according to analyst Brian Gesuale, is an emerging, vertically integrated space platform that now includes launch, spacecraft, components, payloads, and optical communications, rather than just a rocket company. He projected a path to positive adjusted EBITDA and free cash flow by 2027-2028, potentially outpacing SpaceX in that metric as the company's investment requirements are expected to ease.

Raymond James particularly identified two "significant upside" potential for Rocket Lab Corporation (NASDAQ:RKLB) that go beyond the company's traditional launch business. The first is Neutron, Rocket Lab's medium-lift, reusable rocket that is expected to expand its addressable market in 2027, which the analyst described as the most important trigger in the story; the vehicle is now under testing, with launch pad delivery scheduled for the fourth quarter. The second is Rocket Lab's push into satellite operations and optical communications through two acquisitions: its completed $155.3 million purchase of Mynaric in April 2026, and its pending roughly $8 billion acquisition of Iridium Communications Inc. (NASDAQ:IRDM), which would bring Iridium's operating satellite network, L-band spectrum, and more than 2.55 million billable subscribers.

Raymond James was clear that this entails substantial execution risk: the firm highlighted aggressive Street gross-margin assumptions, the complexity of transitioning Neutron from development to commercialization, and the integration risk associated with incorporating both Iridium Communications Inc. (NASDAQ:IRDM) and Mynaric into Rocket Lab's operations. The Iridium deal, which is still seeking regulatory approval, adds size and complexity far beyond what Rocket Lab has previously absorbed.