- Stifel analyst Erik Rasmussen initiated Rocket Lab USA Inc (NASDAQ:RKLB) with a Buy rating and a price target of $22, implying an upside of 43.5%.
- Rasmussen says the small satellite market “has exploded the past few years” and sees Rocket Lab is well-positioned to capitalize and press its competitive, first-mover advantages.
- He views Rocket Lab dedicated small launch “Electron” rocket being “a game-changer,” but also expects its medium launch “Neutron” rocket helping fill the void for smallsat constellation deployments.
- Recently, Rocket Lab secured a $24.35 million contract from the U.S. Space Force’s Space Systems Command (SSC) to develop the Neutron launch vehicle’s upper stage.
- Price Action: RKLB shares are trading higher by 4.41% at $15.3 on the last check Thursday.
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