Rocket Lab Is Five Launches From 100 Electron Missions — Raymond James Flags Two Opportunities With ‘Significant Upsides’

Raymond James said Rocket Lab is building a vertically integrated and capital-efficient space platform, with strong revenue and backlog growth potential.

• Raymond James initiated coverage with an ‘Outperform’ rating and an $80 price target, according to The Fly.
• The firm said Neutron and the Iridium/Mynaric expansion offer significant upside, but cautioned against execution, integration, and margin risks.
• Rocket Lab has more than 90 launches in its backlog across Electron, Haste and Neutron launch vehicles.

Rocket Lab (RKLB) received a bullish analyst call on Friday as the space company closes in on its 100th Electron mission and prepares for a bigger push beyond small-rocket launches.

Rocket Lab completed its 16th mission of 2026 using the smaller Electron rockets and its 95th overall, and is just five launches away from the 100 mark. The space firm is also closing in on its annual launch record of 21, set in 2025.

RKLB shares were up 1.5% in pre-market trading, at the time of writing.

Why Raymond James Sees A Significant Upside

Raymond James analyst Brian Gesuale initiated coverage with an ‘Outperform’ rating and an $80 price target, according to The Fly. This represents a 27% upside from current levels.

The firm said Rocket Lab is building a vertically integrated and capital-efficient space platform, with strong revenue and backlog growth and a potential path to positive adjusted earnings before interest, tax, depreciation and amortization (EBITDA) and free cash flow in 2027 and 2028.

Rocket Lab reported a record second quarter, with revenue surging 62% to $234 million, while backlog more than doubled to $2.36 billion. It expects Q3 revenue of $250 million to $265 million, another quarterly record.

All Eyes On Neutron

Electron is designed for launches of small satellites, while Neutron is Rocket Lab’s upcoming larger, reusable rocket to deploy satellite constellations and support national-security missions.

Rocket Lab is currently testing Neutron, with launch pad delivery expected in Q4. The company already has more than 90 launches in backlog across Electron, Haste and Neutron launch vehicles.

Rocket Lab Looks Beyond Rockets

That opportunity comes as Rocket Lab expands into an end-to-end space company. Its acquisition of Mynaric in April added laser communication terminals used to transfer large amounts of data between satellites. Rocket Lab has also agreed to acquire Iridium Communications in a roughly $8 billion deal.

Iridium brings an operating satellite network, L-band spectrum (used for satellite communications and related services) and more than 2.55 million subscribers. The deal is expected to close in mid-2027.

Raymond James said Neutron and the Iridium/Mynaric expansion offer significant upside, but cautioned that execution, integration and margin risks will be key factors to watch.

Retail Says Neutron Could Boost RKLB to $200

Retail sentiment surrounding RKLB on Stocktwits remained in the ‘bearish’ zone.

One user debated the bulls-vs-bears outlook.

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Another user said the stock could potentially climb to $200 if Neutron “proves itself.”

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The stock has already shed more than 18% so far in 2026.

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