Rocket Lab price target raised to $22 from $15 at Stifel

Stifel raised the firm’s price target on Rocket Lab (RKLB) to $22 from $15 and keeps a Buy rating on the shares after the company reported revenue at the high-end of its prior guidance, while also delivering a better-than-expected adjusted EBITDA loss. Importantly, the company booked their first launch contract for its Neutron rocket, lending confidence in their ability to launch their first test flight in Mid-2025, which “shows there is strong demand for a viable #2 player for launch behind SpaceX,” the analyst tells investors.