In a report on New Zealand and Long Beach-based Rocket Lab their valuation has significantly increased recently as determined by Investment bank Cantor Fitzgerald, which raised its price target from $29 to $35. This positive rise is driven by investor enthusiasm and analysts.
After meetings with management the bank’s analyst Andres Sheppard has raised the firm’s price target on the NASDAQ index and maintains an Overweight rating on the shares . The company’s shares have enjoyed a major rise that exceeds 500% over the past year
This increase is partly attributed to the three different rocket types and dedicated launchpads in New Zealand and the US as “significant moats.” its new rocket, Neutron, which is expected to compete with SpaceX’s Falcon 9.
