Needham raised Rocket Lab’s price target to $90 from $63, maintaining a Buy rating after the company was awarded $805M for the Space Development Agency’s Tracking Layer Tranche 3. This marks Rocket Lab’s largest award, validating its defense prime status and doubling its Space Systems segment backlog.

(Source: TheFly)

For more information on RKLB, visit TipRanks’ Disclaimer & Disclosure page.

Read more at Yahoo Finance: Rocket Lab price target raised to $90 from $63 at Needham