Stifel analyst Erik Rasmussen raised the firm’s price target on Rocket Lab (RKLB) to $65 from $55 and keeps a Buy rating on the shares ahead of quarterly results. The firm is expecting results to come in at near the high-end of its previous guidance, and an increase in adjusted gross margin by 370bps sequentially. The company continues to show a steady launch cadence with 4 launches in the quarter. Stifel believes the company benefited from higher Electron ASP, while also seeing a steady increase in its Space Systems business as the SDA program is in full production mode.
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