Rocket Lab USA, Inc. (RKLB) saw its stock price soar 5.11% in the pre-market trading session on Monday, fueled by bullish actions from Wall Street analysts.
Citi analyst Jason Gursky raised the firm's price target on RKLB to $22 from $13, while maintaining a Buy rating on the shares. Gursky cited the company's strong third-quarter results and growing demand for its launch services as reasons for the positive outlook.
Additionally, Morgan Stanley boosted its price target on RKLB to $18 from $6.50, though the firm kept an Equalweight rating on the stock. The analyst actions suggest that Wall Street is becoming increasingly optimistic about Rocket Lab's growth prospects and potential for further upside.
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