Clear Street Initiates Coverage on Rocket Lab Corporation (RKLB) with a Buy

Rocket Lab Corporation (NASDAQ:RKLB) is among the 10 Best Aerospace and Defense Stocks to Buy According to Billionaires. On March 19, Clear Street initiated coverage of the stock with a Buy rating and announced a share price target of $88.

Clear Street Initiates Coverage on Rocket Lab Corporation (RKLB) with a Buy

According to a report on TipRanks, the firm’s analyst Greg Pandy highlighted Neutron, the company’s leadership in small-lift orbital launch, and its Space Systems as major drivers of revenue growth for the company and in reinforcing its status as a ‘leading integrated space operator’.

This follows Deutsche Bank’s adjustment earlier in the month on March 2, when analyst Edison Yu raised the price target on Rocket Lab Corporation (NASDAQ:RKLB) to $73 from $55 and maintained a Buy rating. As of the close of business on March 20, the stock is a Moderate Buy with an average upside of 33%.

In other news, on Wednesday, the company announced it had secured a $190 million contract for 20 hypersonic test flights with its HASTE launch vehicle under the U.S. Department of War’s MACH-TB 2.0 program. This is the largest launch contract in the space firm’s history, taking its backlog for launch and space systems to over $2 billion.

Rocket Lab Corporation (NASDAQ:RKLB) is a global leader in launch services and space systems with an established record of delivery success. The company designs and manufactures spacecraft and related components, rockets, and on-orbit management solutions required for the space economy.

While we acknowledge the risk and potential of RKLB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RKLB and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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