Rocket Lab (RKLB 3.72%) saw significant lift over the past few days from two analysts tracking the stock, one of whom was a fresh arrival. As a result the space company's stock was defying gravity; according to data compiled by S&P Global Market Intelligence it was trading 4% higher week to date as of early Friday morning.
Tripling down
The first of the pair was published by Kristine Liwag of white-shoe investment bank Morgan Stanley.
Image source: Getty Images.
On Monday, she made a rocket-like raise to her Rocket Lab price target, tripling it and then some to $68 per share from her preceding $20. Despite that rather bullish adjustment, Liwag maintained her equal weight (neutral, in other words) recommendation on the stock.
The crux of Liwag's argument, according to reports, is her contention that Rocket Lab is akin to the more high-profile space exploration company SpaceX, which is led by Tesla CEO Elon Musk. Like its peer it should be able to take advantage of demand for space transportation. Unlike SpaceX, investors can readily invest in Rocket Lab stock.
NASDAQ: RKLB
Key Data Points
A new bull enters the pen
A more bullish take on Rocket Lab's future was expressed by researcher Baird, which initiated coverage on Rocket Lab two days later. The company rated Rocket Lab's stock an outperform (buy, in other words) at a price target of $83 per share.
According to reports, Baird was particularly impressed with the company's high success rate in its launches, and its significant potential in the medium-lift market. The researcher feels the shares could eventually be worth more than $200 apiece.
