18 hours ago
Rocket Lab (RKLB) Awarded Highest Price Target Yet by KeyBanc
KeyBanc analyst Michael Leshock raised the price target on RKLB stock to a new Street-High of $40 from $29, implying 16.5% upside potential from current levels. The five-star analyst maintained a Buy rating on RKLB stock. Leshock noted that although Rocket Lab faces ongoing supply constraints in the aerospace and defense aftermarket, it continues to demonstrate strong performance and demand in its core space and defense business areas.
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Notably, Leshock is a five-star analyst on TipRanks, ranking #579 out of 9,680 analysts. He boasts a success rate of 93% and an average return per rating of 70.10%. To date, Leshock's best rating has been his 'Buy' recommendation on RKLB stock between January 16, 2024, and January 16, 2025, where he earned gigantic returns of 398.7%.
Why Did RKLB Stock Hit a New 52-Week High?
On July 1, shares of Rocket Lab USA (RKLB) hit a fresh 52-week high of $38.26 before dropping 4%. RKLB stock had been building upward momentum over the past couple of trading sessions, attributable to positive company news.
On June 26, the company announced the successful launch of its 67th Electron rocket, deploying four satellites for HawkEye 360. Additionally, Rocket Lab signed a deal with the European Space Agency (ESA) to launch two small spacecraft to test a planned low Earth orbit positioning, navigation and timing (LEO-PNT) constellation.
The company could also benefit from the resurfaced feud between President Trump and Elon Musk. The president has threatened to take away billions of dollars' worth of government contracts and subsidies from Musk's companies, including Tesla (TSLA) and SpaceX.
Does Rocket Lab Have a Future?
Analysts remain divided about Rocket Lab USA's long-term stock trajectory. While the aerospace company is completing successful space launches, Rocket Lab is not yet profitable or generating positive cash flows, with visibility to normalized financials being limited at the moment.
On TipRanks, RKLB stock has a Moderate Buy consensus rating based on six Buys and four Hold ratings. Also, the average Rocket Lab USA price target of $29.50 implies 15.4% downside potential from current levels. In the past year, RKLB stock has gained over 644%.
