Rocket Lab (RKLB) PT Lowered to $8 at TD Cowen, Outperform maintained, "rebound to 20 launches in 2024 is achievable"

TD Cowen analyst Cai von Rumohr lowered the price target on Rocket Lab USA (NASDAQ: RKLB) to $8.00 (from $9.50) while maintaining a Outperform rating.

The analyst comments: "Off 17% since its 9/18 launch failure, RKLB still has the best success rate of the small launch providers, Space X transporter is sold out for two years, and launch demand is strong. We think rebound to 20 launches in 2024 is achievable and reiterate our Outperform rating for a reset PT of $8 or 8.5x 2024 revenues."

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