Rocket Lab USA (RKLB) Announces Plan to Recover/Reuse Rocket Booster - Canaccord Genuity
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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".
Shares of Rocket Lab USA closed at $8.20 yesterday.
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