Rocket Lab USA (RKLB) Announces Two New Launches - BofA Securities

July 6, 2022 8:34 AM EDT
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Price: $4.23 +3.93%

Rating Summary:
    7 Buy, 1 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 11
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BofA Securities analyst Ronald Epstein reiterated a Buy rating and $12.00 price target on Rocket Lab USA (NASDAQ: RKLB) after the company announced its next two launches will be responsive space missions for the U.S. Government’s National Reconnaissance Office (NRO). The company will launch two satellites, “NROL-162” and “NROL-199”, based on the Electron rocket in New Zealand on July 12th and July 22nd.

The analyst stated "The announcement of the new launches comes after the recent successful launch and trans lunar injection deployment of NASA’s CAPSTONE satellite. The dual launch will bring Electron’s total launches to 29 and, if successful, 149 total satellite deployments. Rocket Lab continues to demonstrate frequent and reliable launches as the most affordable small-lift option for the U.S. and allied customers. We continue to view Rocket Lab’s position in small satellite launches as favorable, given estimates stating small satellites will account for 94% of launches by the end of the decade."

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 $3.97 yesterday.

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