2024-05-08 13:46:00 ET
Investors weren't too impressed with Rocket Lab 's (NASDAQ: RKLB) first-quarter earnings report Monday, selling shares of the space stock down 2% despite Rocket Lab reporting 69% sales growth in Q1 -- and predicting up to 77% growth in Q2!
But one Wall Street analyst firm begs to differ.
On Tuesday, investment bank Citigroup repeated its opinion that Rocket Lab stock is a buy. The banker did nudge its price target down to $5.45. But even this target implies Rocket Lab stock will (what else?) rocket 40% over the next year.
For further details see:
Rocket Lab Stock Has 40% Upside, According to 1 Wall Street Analyst Firm