Rocket Lab price target lowered to $10 from $12 at Deutsche Bank

Deutsche Bank analyst Edison Yu lowered the firm’s price target on Rocket Lab to $10 from $12 and keeps a Buy rating on the shares. The analyst says that while the firm anticipated weaker margins this year, the pressure is considerably greater than expected due to Neutron development spend and ongoing SolAero restructuring. This "narrative will certainly turn off some investors" in the current macro backdrop but the underlying causes of this are necessary for Rocket Lab to become a major player in the new space ecosystem longer term, the analyst tells investors in a research note.