Needham analyst Ryan Koontz maintained a Buy rating on Rocket Lab USA (RKLB – Research Report) today and set a price target of $28.00.
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Ryan Koontz has given his Buy rating due to a combination of factors including Rocket Lab USA’s strong performance in the first quarter, where they exceeded revenue and adjusted EBITDA expectations. Although the guidance for the second quarter was below consensus, the company is making significant progress with its Neutron launch, which is on track for later this year.
The impressive year-over-year growth in Space Systems sales and the additional launch in the first quarter contributed to a positive outlook. Furthermore, Rocket Lab’s selection for the NSSL Phase 3 Lane 1 program positions them to deliver national security missions, enhancing their competitive stance against major U.S. launch providers. These elements support a positive long-term potential, justifying the Buy rating.
In another report released on May 9, Roth MKM also maintained a Buy rating on the stock with a $25.00 price target.