Rocket Lab reinstated with a Buy at Citi

Citi reinstated coverage of Rocket Lab with a Buy rating and $6 price target following the company’s recent capital markets transactions and a “major” award by the U.S. government. The former provides the company sufficient liquidity to execute on its current backlog, to develop new products, and to engage in bolt-on acqsuitions, the analyst tells investors in a research note. The The latter is a positive proof point that customer adoption of Rocket Lab’s products is beginning to accelerate, says Citi.