Wells Fargo analyst Matthew Akers lowered the firm’s price target on Rocket Lab to $5 from $6.75 and keeps an Equal Weight rating on the shares. Rocket Lab’s electron rocket failure is a setback, although the firm thinks not a dealbreaker for future customers with little real competition in the small dedicated launch market. Wells estimates $35M free cash flow hit to 2023, partly recovered in 2024.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on RKLB:
- Resilient Potential: Analyst Maintains Buy Rating on Rocket Lab USA Despite Launch Failure
- Rocket Lab (NASDAQ:RKLB) Plummets after Rocket Launch Failure
- Rocket Lab reports issue during 41st mission, experiences loss of mission
- Rocket Lab USA call volume above normal and directionally bullish
- Rocket Lab (NASDAQ:RKLB) Stock Slips; Top Insider Sells Stock