Citi raised the firm’s price target on Rocket Lab to $7 from $5.45 and keeps a Buy rating on the shares post the Q2 report. The new target reflects the near-term cadence of the company’s launches, the analyst tells investors in a research note. The firm assigns Rocket Lab a higher valuation multiple, saying the recent hot fire test of the engine that will power the Neutron rocket helps de-risk estimates.
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