Cantor Fitzgerald analyst Andres Sheppard reiterated an Overweight rating and $96.00 price target on Rocket Lab USA (NASDAQ: RKLB).

The analyst commented, "On 5/26, RKLB announced it completed the acquisition of Motiv Space Systems, a provider of space robotics, motion control systems, and precision spacecraft mechanisms. The acquisition adds Mars-proven robotics technology used on NASA’s Perseverance rover and CADRE lunar rovers, as well as solar array drive assemblies, antennas, etc. Management views the deal as improving RKLB’s vertical integration strategy, especially for satellite constellation manufacturing. Additionally, on 5/21, RKLB announced it had been awarded a $90M contract from the U.S. Space Force's Space Systems Command (SSC). RKLB will design, manufacture, integrate, and operate 2 geostationary (GEO) satellites. This award represents RKLB's first satellite production program for GEO, which we see as encouraging. Separately, on 5/22, RKLB launched a Synspective (private) StriX radar-imaging satellite, marking its 9th Electron launch of the year (including HASTE). Synspective is building a constellation of >30 radar satellites by 2028. Overall, we continue to view Rocket Lab's track record of successful space launches (heritage is a key differentiator), the portfolio of three different rocket types (Electron, Haste and Neutron), the customer diversification (Commercial and Government / domestic and international), and the dedicated launchpads in New Zealand and the U.S., as material moats. We view Neutron as the most material catalyst (we expect 4Q), and we remain bullish over the long term. Key Risks Include: (1) Further delays in Neutron, (2) Regulatory risks/budget cut, (3) Payload loss, (4) supply-chain disruption, & (5) technology complexity."

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Shares of Rocket Lab USA closed at $143.20 yesterday.