Rocket Lab USA Inc. is trading at $121.21 (+5.68%) after Stifel upgraded its price target on the stock, providing a catalyst for a rebound from recent sharp declines.
- Stifel raised its price target on Rocket Lab to $132 from a previous $110, while maintaining a "Buy" rating on the shares.
- The brokerage pointed to Rocket Lab's continued execution, stronger revenue momentum, an expanding backlog, and rising launch activity as reasons for the upgrade.
- The stock is in a relief rally after several sessions of sharp declines, having fallen almost 26% since its peak on May 27.