Rocket Lab price target raised to $15 from $9 at Stifel

Stifel analyst Erik Rasmussen raised the firm’s price target on Rocket Lab (RKLB) to $15 from $9 and keeps a Buy rating on the shares after CFO Adam Spice participated in the Stifel 2024 Midwest One-on-One Conference in Chicago. The firm came away from the meetings with “a high-level conviction” in the company’s ability to deliver Neutron to the market while also being well positioned to capitalize on Space Systems momentum across a number of high-profile programs, the analyst tells investors. Given award momentum and a focus on scaling the business towards “attractive and profitable growth opportunities,” the firm continue to view Rocket Lab’s longer-term prospects positively, the analyst added.