Needham Starts Rocket Lab USA (RKLB) at Buy

Needham analyst Ryan Koontz initiates coverage on Rocket Lab USA (NASDAQ: RKLB) with a Buy rating and a price target of $28.00.

The analyst commented: "RKLB is a disruptive company in the fast-evolving space sector. Their deep vertical integration differentiates the company and puts RKLB in a prime position to challenge market leader SpaceX. Their Space Systems business, supplying turn-key satellite buses and subsystems, is benefiting from strong growth in government and commercial LEO constellation launches. Profits from Space Systems fund the company's Launch business, already proven for small-lift with its Electron rocket, and is soon expected to enter medium-lift launch with Neutron. Electron has reached maturity now with over 60 successful launches, while Neutron is expected to complete its first commercial missions in C26 and deliver on re-usability. Successful Neutron launches and wins vs SpaceX are expected to meaningfully improve revenue, earnings and cash flow beginning in C26."

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 $21.88 yesterday.

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