Rocket Lab upgraded to Outperform from Market Perform at Citizens

Citizens upgraded Rocket Lab (RKLB) to Outperform from Market Perform with an $85 price target The company’s launch, defense space systems, and “clearer path toward higher-value” space services creates a risk/reward profile that is “meaningfully in Rocket Lab’s favor,” the analyst tells investors in a research note. Citizens also sees a favorable geopolitical and funding environment for the space economy. It sees a “confluence of several strategic and macroeconomic factors” creating a favorable entry point for shares and expects “solid upside potential” over the next 12 months and beyond.