Morgan Stanley Reiterates Overweight Rating on RKLB, Bull Case Price Target Raised to $293

Morgan Stanley has reiterated its overweight rating on Rocket Lab (RKLB), maintaining a price target of $105, but raising the bull case optimistic price target from $185 to $293. Analysts believe that the acquisition of Iridium will broaden Rocket Lab's potential market space and reposition the company as a vertically integrated space platform. Although SpaceX has significant scale and cost advantages over Rocket Lab, the latter is moving closer to the former's model.