BlackSky price target raised to $30 from $10 at Oppenheimer

Oppenheimer raised the firm’s price target on BlackSky (BKSY) to $30 from $10 and keeps an Outperform rating on the shares. The firm notes the company successfully launched its first Gen-3 satellite with Rocket Labs. In Oppenheimer’s view, this greatly reduces risk with its latest iteration up in orbit and working. The firm also now has better line-of-sight into future launches with at least four more Gen-3 launches scheduled for 2025. Oppenheimer expects its more powerful Gen-3 satellites to convert backlog to revenue and major new services.