Rocket Lab price target raised to $30 from $10 at BofA

BofA raised the firm’s price target on Rocket Lab (RKLB) to $30 from $10 and keeps a Buy rating on the shares. Rocket Lab’s capabilities in launch and spacecraft development are advancing its goal of becoming a critical end-to-end space provider, says the firm, which tells investors that the firm’s raised target reflects stronger free cash flow on Space Systems and Electron profitability, as well as a lower discount rate on lower market risk and beta as Neutron derisks and the company “emerges as a key space prime.”