KeyBanc raised the firm’s price target on Rocket Lab (RKLB) to $75 from $50 and keeps an Overweight rating on the shares after meeting with CEO Peter Beck and CFO Adam Spice and touring the company’s Long Beach, CA, headquarters. KeyBanc gained incremental visibility into the strong growth within its Space Systems segment and Archimedes engine production, and it believes Rocket Lab is solidifying itself as a national security asset via its reliable access to space and hypersonics initiatives. The company’s strong cash position supports its ongoing growth investments, potential M&A, and future space endeavors.
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