U.S. Space Force Awards $11.4B Contract to Rocket Lab Alongside Six Others on Friday

According to the U.S. Space Force, which announced on Friday night that it had awarded seven companies contracts to provide launch services, the order would cumulatively increase the ceiling by $11.4 billion under the National Security Space Launch program's Lane 1. The companies selected are United Launch Services, Blue Origin, SpaceX, Stoke Space Technologies, Rocket Lab, Impulse Space, and Relativity Federal, bringing the total cumulative face value of the contract to $17 billion from $5.6 billion.

Rocket Lab stock (RKLB) fell 2.7% on Monday to its lowest level in nearly three months despite the contract win. However, retail investors maintained a bullish stance on the stock and viewed current price levels as a buying opportunity. According to Koyfin data, 17 analysts have a 12-month price target of $114.33 on RKLB stock, implying nearly 73% upside.