STOCKS | Morgan Stanley Reaffirms Overweight Rating on Rocket Lab and Raises Bull-Case Target to $293

Morgan Stanley reaffirmed its Overweight rating on Rocket Lab (RKLB) and kept its price target unchanged at $105, while raising its most optimistic bull-case target to $293 from $185. According to Odaily, Morgan Stanley analysts said Rocket Lab’s acquisition of Iridium would expand the company’s potential market and reposition it as a vertically integrated space platform. The analysts added that while SpaceX has significant scale and cost advantages over Rocket Lab, Rocket Lab is moving toward a similar model.