Rocket Lab price target raised to $55 from $45 at Needham

Needham raised the firm’s price target on Rocket Lab (RKLB) to $55 from $45 and keeps a Buy rating on the shares. The company reported strong Q2 results with revenue and EBITDA above consensus, also delivering higher than expected guidance, the analyst tells investors in a research note. Rocket Lab management also sounds increasingly confident in its steady revenue growth and gross margin expansion, the firm added.