Rocket Lab price target raised to $34 from $29 at Stifel

Stifel analyst Erik Rasmussen raised the firm’s price target on Rocket Lab (RKLB) to $34 from $29 and keeps a Buy rating on the shares after the company announced an agreement to acquire Geost, an electro-optical and infrared payload development and manufacturing company and provider to high-priority national security satellites. The firm is “encouraged” by this deal and its strategic rationale as Rocket Lab is acquiring key technologies to enter into the satellite payload segment, “creating a new category and positioning the company as a disruptor for national security space,” the analyst tells investors.