Rocket Lab price target raised to $24 from $7 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Rocket Lab (RKLB) to $24 from $7 and keeps an Overweight rating on the shares. Rocket Lab disclosed that it has signed a “multi-launch agreement” with a commercial satellite constellation operator for its upcoming new reusable-ready medium-lift rocket, called Neutron, and management is targeting Neutron’s first launch to take place “no earlier than mid-2025,” the analyst tells investors in a research note.