Why Rocket Lab Stock Popped 5% Today
Small rocket maker Rocket Lab USA (NASDAQ: RKLB) stock ran up 5% through 2:30 p.m. ET Thursday after KeyBanc announced reservations about aerospace stocks in general -- but named Rocket Lab a notable exception.
According to reports, KeyBanc downgraded shares of ATI Inc. and Howmet Aerospace citing "slowing order rates and the onset of inventory accumulation," and expressed skepticism about the outlook for . In stark contrast, KeyBanc said it remains confident in certain space stocks, including Rocket Lab, for which the banker raised its price target to $12 per share.
Rocket Lab is doing its best to justify that confidence. Last week, the company announced it will add an unexpected (and apparently short-notice) launch "for a confidential commercial customer" who requested a launch less than two months ago. The company subsequently confided it would take "a few extra days to perform final checkouts" before launching the mission.
Source Fool.com
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