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Rocket Lab has formally protested NASA's decision to award a $700 million Mars Telecommunications Network contract to Blue Origin, calling the agency's selection "punitive" and "inconsistent" with congressional eligibility criteria. Blue Origin won the contract to deliver a Mars Telecommunications Orbiter by 31 December 2028, based on its Blue Ring spacecraft platform. The company argues NASA's selection process was rigorous and the award was deserved. The Government Accountability Office now has 100 days to review the protest. If it rules against Rocket Lab, the company could escalate to federal court, potentially delaying the mission beyond the 2028 launch window. Meanwhile, Iridium Communications shareholders approved Rocket Lab's $8 billion acquisition on 24 September. Once closed, the merger will add $884 million in annual revenue to Rocket Lab's existing $769 million, making it instantly profitable.

Rocket Lab (NASDAQ: RKLB) stock price could surpass $100 before 2029, analyst predicts. Rocket Lab USA (NASDAQ: RKLB) has a credible path back to triple-digit territory within the next two years, according to a recent analysis by Motley Fool contributor Daniel Sparks. Rocket Lab stock closed above $100 as recently as early July, meaning a return to that level would represent a rebound rather than uncharted ground for investors. The stock currently trades around $74, meaning the projected move to $100 would represent a gain of approximately 35%, or roughly 14% annually over just over two years. The company's backlog reached a record $2.36 billion at midyear, up 137% year over year, signaling that a substantial portion of future revenue is already under contract. Rocket Lab began August with around 598 million common shares outstanding, with a September share sale adding another 29.3 million shares to that count. An additional 41 million or so preferred shares can convert to common stock, further influencing the total share count and any valuation calculation. Iridium shareholders are also set to receive a portion of their acquisition payment in Rocket Lab stock when the deal closes, which the two companies expect to occur in mid-2027. Taken together, these factors bring the total share count to approximately 700 million, placing Rocket Lab's market value near $70 billion at the $100 price level, compared to roughly $49 billion today. The market previously valued Rocket Lab at $151 per share as recently as late May, demonstrating that investors have already shown willingness to price in aggressive long-term growth expectations. However, Sparks identifies several conditions that still need to go right, noting that the company's larger reusable rocket, Neutron, has not yet flown, the Iridium deal has not yet closed, and the company continues to post losses. Despite his bullish long-term outlook, Sparks stopped short of issuing a buy recommendation, stating that today's price around $74 already prices in years of successful execution. The analysis underscores a broader tension in high-growth space stocks, where strong order backlogs and ambitious development timelines must be weighed carefully against ongoing cash burn and execution risk.

Rocket Lab shares have dropped 51% from their 52-week high of $151, but analyst Pierre Ferragu of New Street Research has set a Street-high price target of $150, implying roughly 104% upside. The stock currently trades at $73.61, with a consensus Wall Street target of $109.37. The decline stems from delays to Rocket Lab's Neutron rocket, which saw its launch window narrow after a stage-1 tank test failure. Delivery to the pad is now targeted for Q4 2026. The company also pulled $1.08 billion through its ATM programme in Q2, raising dilution concerns. Ferragu's bullish thesis centres on Neutron commercialisation at $50 to $55 million per flight, growing government contracts including a $397 million Space Force award, and the pending Iridium Communications acquisition. Rocket Lab maintains a $2.36 billion backlog.