Needham Reiterates $RKLB at Buy, PT $120
Analyst comments: "RKLB acquired IRDM for ~$8 billion in enterprise value to mark a bold move toward becoming a self-launching space superpower. In complementing RKLB’s position as the #2 global supplier in launch and strength in vertically integrated satellite manufacturing, IRDM brings high-value and resilient global L-band spectrum and a highly profitable, 60-satellite mission-critical communications constellation with key customer relationships spanning enterprise and government.
Together, we expect the combined company will likely densify its existing constellation while developing and later launching a next-generation constellation that more efficiently taps ~8 MHz of very scarce, weather-resilient spectrum for global voice and data services.
While immediate free cash flow and operating margin accretion should boost the RKLB financial profile, we see great strategic synergy in the move to accelerate the stated RKLB plan to enter the satellite communications services market."
Analyst: Ryan Koontz
Block out the noise. Fuck the distractions. We are officially LOCKED IN. The market is handing out generational opportunities right now, and if you’re sleeping, you’re losing.Hit the gym. Clear your head. Get to your setup. Analyze the charts. Time to eat. 🔒