Rocket Lab rises on $266 mln US Air Force contract win
RKLB•Analyst views
Seventeen of 21 analysts rate the stock "strong buy" or "buy" and four rate it "hold," with a median price target of $120, up from $105 a month ago and $88 on Apr. 22, according to LSEG data.
Contract details
The contract provides for launch of 12 suborbital vehicles, with six optional launches.
Work is to be performed at Pacific Spaceport Complex, Alaska, and is expected to be completed by the end of 2028.
Recent deal and stock performance
Long Beach, California-based Rocket Lab last month struck an $8 billion deal to acquire satellite communications provider Iridium Communications (IRDM.O), aiming to take on SpaceX (SPCX.O).
At Tuesday's close, Rocket Lab shares were down about 1% year to date and off 54% from their record intraday high of $151 achieved on May 27.
Shares rise after Air Force contract win
Shares of space services firm Rocket Lab (RKLB.O) were up 2.9% at $71.11 before the bell on Wednesday after winning a $266 million contract from the U.S. Air Force.
