Morgan Stanley Downgrades Rocket Lab USA (RKLB) to Equalweight

Morgan Stanley analyst Kristine Liwag downgraded Rocket Lab USA (NASDAQ: RKLB) from Overweight to Equalweight with a price target of $6.00 (from $8.00).

The analyst comments: "We are downgrading Rocket Lab (RKLB) to EW from OW and moving our price target to $6 from $8. Additionally, we are shifting our Base Case Range for RKLB lower to $4-10 (vs. a prior $6-15). While we remain bullish RKLB's longer-term potential in the burgeoning Space market – both in terms of launch and satellite + component design and manufacturing – we rarely see new rocket development timelines accelerated and thus see a more limited near-term catalyst path ahead. We see a range of possible outcomes for RKLB, which hinge primarily upon company execution and the competitive environment. We note Falcon-9's (SpaceX) July 11th launch mishap and pending investigation does not change our fundamental RKLB view."

For an analyst ratings summary and ratings history on Rocket Lab USA click here. For more ratings news on Rocket Lab USA click here.

Shares of Rocket Lab USA closed at $5.65 yesterday.

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