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Rocket Lab USA Inc.’s stock initially tumbled in the wake of the company’s fourth-quarter results Thursday, weighed down by weak outlook, although an analyst KeyBanc Capital Markets believes the company’s long-term-growth prospects are still strong.
KeyBanc Capital Markets lowered its price target to $28 from $32, reflecting the lower
first-quarter sales baseline, in a note released Thursday. However, the analyst firm maintained its overweight rating for the stock RKLB. “Our [long-term] thesis remains intact,” analyst Michael Leshock wrote in the note. “We believe [Rocket Lab] is on track to follow a similarly aggressive growth trajectory as SpaceX, and [Rocket Lab] is positioned to be an industry leader in both launch services and satellite manufacturing/design.”
This post was originally published on Market Watch
