Needham raised the firm’s price target on Rocket Lab (RKLB) to $63 from $55 and keeps a Buy rating on the shares. The company reported strong Q3 results, with revenue 2% above consensus, and also guided Q4 revenue above consensus, the analyst tells investors in a research note. Both Space Systems, up 36%, and Launch, up 95%, segments drove Q3 strength while gross margins also impressed, the firm added.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RKLB:
- Optimistic Outlook for Rocket Lab USA Amid Strong Q3 Performance and Growth Prospects
- Morning News Wrap-Up: Tuesday’s Biggest Stock Market Stories!
- Mixed options sentiment in Rocket Lab USA with shares up 3.57%
- Morning Movers: Nvidia dips after SoftBank sells out of stake
- Video: Nvidia dips as SoftBank sells out