Shares of Rocket Lab USA, Inc. (RKLB) surged 10.31% on Tuesday, buoyed by the company's recent announcement that it has been selected by NASA to complete a study for retrieving rock samples from Mars and returning them to Earth.
The contract, which could potentially yield a mission concept that is significantly more cost-effective and faster than NASA's current projected timeline, has fueled optimism among investors regarding Rocket Lab's prospects in the rapidly growing space industry. The company's expertise in planetary science and its track record of successful missions, including delivering spacecraft to NASA for a Mars mission and re-entering a capsule from orbit to Earth, have likely contributed to the positive sentiment.
Additionally, analysts at KeyBanc have expressed confidence in Rocket Lab's ability to scale its business and position itself as an industry leader in launch services and satellite manufacturing. The firm raised its price target on RKLB stock to $11 from $8, further boosting investor enthusiasm.
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