Rocket Lab Iridium Deal Spurs SPCX Gains and $130 Price Targets

Rocket Lab’s $8 billion acquisition of Iridium Communications on June 29 transformed the launch provider into a vertically integrated satellite operator with 2.55 million subscribers, sending RKLB shares up 16% and SPCX up 7.2%. The deal, offering $54 per share and backed by a $3.6 billion bridge facility, is expected to close in mid-2027 and positions Rocket Lab to rival SpaceX Starlink. Momentum built from NASA’s June 25 selection for three Electron launches and a record 16-hour-42-minute U.S. Space Force turnaround on June 26. On June 30, Citizens and Roth raised price targets to $130 as the market repriced space assets, lifting the average target to $120.