Rocket Lab initiated with a Neutral at BTIG

BTIG initiated coverage of Rocket Lab with a Neutral rating and no price target. The analyst says Rocket Lab remains the preeminent small launch provider on the market, having launched at a higher cadence than any other company. However, the firm sees “significant risks” before Rocket Lab can begin to reap the financial benefits of its “guarded” market share. The demands of the Neutron medium lift vehicle development have posed a hurdle toward the company achieving profitability and positive free cash flow, says BTIG.