Rocket Lab USA (RKLB) Announces Plan to Recover/Reuse Rocket Booster - Canaccord Genuity

April 6, 2022 7:50 AM EDT
Get Alerts RKLB Hot Sheet
Price: $5.69 -5.17%

Rating Summary:
    6 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 5 | Down: 15 | New: 12
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Canaccord Genuity analyst Austin Moeller reiterated a Buy rating and $28.00 price target on Rocket Lab USA (NASDAQ: RKLB) after the company announced that it will attempt a midair helicopter recovery of an Electron booster during its next launch. Should Rocket Lab succeed, the Electron will become only the second commercial rocket system after SpaceX’s Falcon 9/Heavy to successfully be recovered. Described by Elon Musk as “the Holy Grail of orbital rocketry,” it is hard to overstate the importance of transitioning a launch vehicle toward being a reusable platform.

The analyst stated "the Electron will deploy its own parachutes (drogue and main) during re-entry at 13 km and 6 km altitude, respectively. In parallel with this, a Sikorsky S-92 search-and-rescue helicopter upgraded with extended fuel tanks will attempt to recover the rocket as it falls into the “capture zone,” using a hook to grab the parachute line. Prior to this, the company recovered three Electron boosters from the ocean following a soft parachute landing; however, a midair recovery will make the booster viable for re-flight by not having its systems exposed to seawater".

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 $8.20 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities

Canaccord Genuity