Why Rocket Lab Stock Popped 11% Today
Rocket Lab (NASDAQ: RKLB) stock rocketed 11.2% through noon ET Monday after investment bank Stifel raised its price target on Friday.
Reports indicate that Stifel analyst Erik Rasmussen raised his estimated valuation of the New Zealand rocket-maker by more than 50%, from $9 to $15 a share, and has "high-level conviction" that Rocket Lab will succeed in bringing its new Neutron rocket to market.
In 2021, Rocket Lab CEO Sir Peter Beck promised that the Neutron medium-lift vehicle would begin launching in 2024. That goal probably won't be met, and at last report, Rocket Lab was targeting a mid-2025 date for its first launch. Allowing for a few last-minute tweaks, it still seems reasonable to assume Rocket Lab will get the launch off before the end of next year.
Source Fool.com
