Rocket Lab price target lowered to $5.45 from $6 at Citi

Citi lowered the firm’s price target on Rocket Lab to $5.45 from $6 and keeps a Buy rating on the shares. The analyst says the long-term thesis on the revenue, earnings and cash flow ramp remains intact after the company’s Q1 earnings report, which slightly missed guidance levels, “but disclosures were a reminder that space is hard.” In the near-term, it looks likely that several of the 22 planned Electron launches will slip out of 2024, the analyst tells investors in a research note.