Rocket Lab Stock (RKLB) Surges to All-Time High as Citi Sets Street-High Price Target
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Citi Eyes Further Upside in RKLB Stock
Despite the strong rally in RKLB stock, Citi's new price target signals upside of over 15% over current levels. Gursky explained that their new price target is based on expectations for Rocket Lab's business in 2029, rather than 2027 as previously modeled. He believes that this period better reflects a more mature state of the company's business model. By then, Citi expects revenue to reach around $2.6 billion, driven by 20 Neutron launches annually and additional satellite construction contracts, especially from U.S. government programs.
Interestingly, Citi's price target leans heavily on the future success of Neutron rockets, even though they haven't launched yet. It's a sign of the broader market optimism, where investors are increasingly betting on long-term potential rather than current performance.
For context, Rocket Lab's Neutron is a medium-lift rocket designed for larger payloads than its Electron rocket, targeting satellite launches and future space missions.
Is RKLB a Good Stock to Buy?
Looking ahead, analysts remain highly optimistic about Rocket Lab 's long-term growth, though they see limited near-term upside following the stock's recent surge.
According to TipRanks, RKLB stock has received a Strong Buy consensus rating, with nine Buys and three Holds assigned in the last three months. The average Rocket Lab stock price target is $33.80, suggesting a potential downside of over 21% from the current level.
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