Rocket Lab USA (RKLB) PT Lowered to $15 at Stifel

Stifel analyst Erik Rasmussen lowered the price target on Rocket Lab USA (NASDAQ: RKLB) to $15.00 (from $18.00) while maintaining a Buy rating following a model update.

The analyst commented, "We are updating our estimates to reflect a lower launch cadence due to delays in customer readiness, and we are also reducing our gross margin estimates to more accurately reflect the consolidated business with the SolAero acquisition. We continue to view RKLB as one of the highest quality NewSpace operators with a dominating lead over competitors within the small launch industry and a powerful vertical integration and economies of scale story positioning the company for long-term success within the Space Systems segment."

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