Cantor Fitzgerald analyst Andres Sheppard reiterated an Overweight rating and $122.00 price target on Rocket Lab USA (NASDAQ: RKLB).

The analyst commented, "Overall, we continue to view Rocket Lab's track record of successful space launches (heritage is a key differentiator), the portfolio of three different rocket types (Electron, Haste and Neutron), the customer diversification (Commercial and Government / domestic and international), and the dedicated launchpads in New Zealand and in the U.S., as material moats. We remain bullish, and we view this as a good entry point ahead of two material catalysts (Neutron first launch, and closing of Iridium acquisition)."

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Shares of Rocket Lab USA closed at $64.57 yesterday.