Rocket Lab shares stabilized at $129.89 in pre-market trading following a recent pullback, as Clear Street analysts issued a bullish $150 price target. The positive outlook is supported by record Q1 revenue and a significant expansion in defense contract backlogs.
- The stock recovered from a 5.87% slide to $124.77 triggered by Director Alexander Slusky’s $11.8 million share sale.
- Momentum is driven by a $2.2 billion backlog and key defense partnerships with Raytheon and Anduril for hypersonic testing.
- Strong financial performance helps offset investor concerns regarding upcoming competition from the SpaceX June IPO.