Bank uplifts RocketLab
October 15, 2025
RocketLab is the New Zealand and US rocket building company, founded and managed by Sir Peter Beck. Its Electron orbital rocket launches small satellites, and has launched 70 satellites as of August 2025; second only to SpaceX. It is developing its Neutron reusable vehicle which will carry larger payloads.
Founded in June 2006, RockletLab has received a major financial boost from investment bank Morgan Stanely which describes the company as an early-stage SpaceX alternative.
Morgan Stanley’s research analysts raised their opinion on Nasdaq-listed RocketLab with a near four-fold uplift to its price target from $20 per share to a thumping $68. The bank says the launch provider is emerging as a publicly traded alternative to Elon Musk’s SpaceX and should benefit from strong demand for space capacity.
The bank expects Neutron to generate negative margins early on, but projects company-wide revenue to grow at a 41 per cent compound annual rate from 2025 to 2029, with positive free cash flow beginning in 2027.
The bank added that RocketLab’s market quote is “now taking valuation cues from SpaceX’s implied valuation which has grown from around $100 billion at the end of 2021 to around $400 billion today”.
Morgan Stanley says that it expects 28 Electron launches in 2026 and which will lead to 34 in 2027, 40 in 2028 and 46 in 2029.
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