Morgan Stanley reiterates "Overweight" rating for RKLB and raises bull case target price to $293

Odaily reports that Morgan Stanley has reiterated its "Overweight" rating for Rocket Lab (RKLB), maintaining the target price at $105, but has raised the most optimistic bull case target price from $185 to $293.

Morgan Stanley analysts believe the acquisition of Iridium will broaden Rocket Lab's potential market and reposition the company as a vertically integrated space platform. Although SpaceX has a significant scale and cost advantage over Rocket Lab, the latter is moving towards the model of the former.