Rocket Lab rises 7% as Cantor reiterates its $122 target

Rocket Lab shares gained 7% to trade at $69.03 in Monday morning trading. The move followed a research note from Cantor Fitzgerald, which reiterated its Overweight rating and a $122 price target on the stock.

Cantor Fitzgerald based its thesis on Rocket Lab's operational launch track record across its Electron, Haste, and Neutron vehicles. The bank also cited dedicated launchpads in New Zealand and the United States, alongside customer diversification between commercial and government buyers across domestic and international markets.

The research note pointed to two key future catalysts: the debut flight of the medium-lift Neutron rocket and the closing of the pending acquisition of Iridium Communications. However, Cantor attached no committed dates or timelines to either event.

The advance coincided with broad buying across the space industry following declines in the previous Friday session. Intuitive Machines surged 10% to $15.28 without company-specific news, while AST SpaceMobile gained 6% to $61.81. The Procure Space ETF rose 2% to $44.19, outpacing the SPDR S&P 500 ETF Trust, which added 1.13% to reach $770.32.