Stifel analyst Erik Rasmussen raised the firm’s price target on Rocket Lab (RKLB) to $31 from $26 and keeps a Buy rating on the shares after the company announced that it was selected to be a member of a team of subcontractors, led by Kratos Defense (KTOS), to be part of a five year contract for the MACH-TB 2.0 under Task Area 1. The firm is “encouraged” by this latest announcement, noting that Rocket Lab has already serviced the MACH-TB program in the past and adding that multiple hypersonic test launches through the company’s HASTE rocket is “a good indicator for future opportunities for HASTE missions.”
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RKLB:
- Rocket Lab selected by Kratos to deliver hypersonic test launches for DoD
- Rocket Lab USA call volume above normal and directionally bullish
- Rocket Lab successfully deploys satellite to complete 16 missions in 2024
- Rocket Lab delivers 2nd spacecraft, completes 3rd for Varda Space Industries
- Rocket Lab USA Could See Major Benefits under Trump Administration