Morgan Stanley gave Rocket Lab a $105 price target. The stock is currently trading around $75. They recently signed a 20-mission contract with Synspective, pushing their order backlog to $2.36 billion. Rocket Lab is also testing its larger Neutron rocket to compete with SpaceX for heavier payloads. The main focus right now is their pending acquisition of Iridium Communications, which gives them the infrastructure to build a satellite internet service similar to Starlink. RKLB has a $43.5 billion market cap compared to SpaceX's $2.2 trillion. The stock is expensive with a P/S ratio near 50 based on $769 million in trailing revenue. They are still unprofitable and burning cash, so this is a long-term play relying heavily on their satellite internet and Neutron rocket execution.