Roth Capital raised the firm’s price target on Rocket Lab (RKLB) to $90 from $75 and keeps a Buy rating on the shares. The firm says the company reported “steady” space systems revenue and growth due to “very strong” launch results in the quarter. Roth expects an increasing cadence of launch activity for Rocket Lab in the coming quarters to drive solid year-over-year launch growth. The firm is also “encouraged” by the company’s backlog growth, particularly in space systems.
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