Jason Gursky, an analyst from Citi, maintained the Buy rating on Rocket Lab USA (RKLB – Research Report). The associated price target remains the same with $33.00.
Jason Gursky has given his Buy rating due to a combination of factors including Rocket Lab’s recent inclusion in the National Security Space Launch (NSSL) program, which is ahead of expectations and viewed positively for the stock. The company’s ability to compete for future launches with the Space Force, which plans to award numerous task orders through 2030, positions Rocket Lab favorably for significant revenue opportunities.
The anticipated ceiling value of these awards is substantial, exceeding $5 billion, and Rocket Lab’s readiness to compete is contingent upon the successful launch of its Neutron vehicle. The earlier-than-expected on-ramp allows Rocket Lab to potentially secure a pivotal role with the Space Force, with projections indicating multiple Neutron vehicles available by 2026 and 2027. This development is expected to positively impact Rocket Lab’s stock, as it reduces risk and enhances future growth prospects.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $30.00 price target.