Why Is Rocket Lab Stock Soaring Today?
Synopsis
Analysts at Morgan Stanley expressed optimism about the initial launch of Rocket Lab’s Neutron program, stating that it is the next major driver for the stock.
Rocket Lab Corp. (RKLB) shares soared over 7% in Monday’s pre-market trade after Morgan Stanley raised its price target for the company.
According to TradingView, citing a report by Reuters, Morgan Stanley expressed optimism about Rocket Lab’s upcoming medium-class launcher, Neutron, nearing its entry into service. The firm raised its price target on the stock to $68 from $20, implying an upside of nearly 6% from the closing price of the shares on Friday.
According to a CNBC report, Morgan Stanley noted that the Neutron program’s initial launch is the next major driver for the Rocket Lab stock.
Retail sentiment on Stocktwits around Rocket Lab trended in the ‘bullish’ territory at the time of writing.
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