Rocket Lab USA, Inc. (NASDAQ:RKLB) is favored by hedge funds as one of the best space stocks to buy. Citi analyst Jason Gursky raised the 12-month price target to $50, citing the company’s Neutron development and satellite-systems business growth.

Rocket Lab, founded in New Zealand and based in California, specializes in small, cheap, and quick-to-launch rockets. The company has attracted customers looking for tailored missions and is developing the Neutron rocket as an alternative to SpaceX’s Falcon9.

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Read more at Yahoo Finance: Citi Lifts Rocket Lab Target to $50 on Neutron Momentum and Government Contracts