Raymond James initiates Rocket Lab with 'outperform', $80 PT

Iridium Communications

11/09/2026 13:20

** Space firm Rocket Lab's RKLB.O shares rise 1.2% to $62.73 premarket
** Raymond James initiates coverage with "outperform" rating; sets PT at $80, implying an upside of 29.1% to the stock's last close
** Brokerage says RKLB will get a $3 bln-plus deployed constellation and ~$300 mln of free cash flow from its $8 bln acquisition of Iridium IRDM.O, which can help the Neutron rocket's scaling
** "Upon closing Iridium, Rocket Lab will be the only vertically integrated space company with positive FCF and partnership led strategy that enables FCF to compound at a time when investment intensity declines" - Raymond James
** Average rating of 21 analysts is "buy;" their median PT is $120 - data compiled by LSEG
** Up to last close, stock has fallen 11.2% YTD

 (Reporting by Anhata Rooprai in Bengaluru)
 ((Anhata.Rooprai@thomsonreuters.com))