Berenberg initiates Rocket Lab at Buy with $83 target

Berenberg has initiated Rocket Lab $RKLB at Buy with an $83 price target, citing the company's vertically integrated position across launch, satellites, components and space infrastructure.
The firm sees Rocket Lab's dedicated small-launch business, upcoming Neutron rocket and expanding space-systems operations as key long-term growth drivers.
Its thesis also highlights recurring applications revenue and additional spectrum exposure following the Iridium acquisition.
Berenberg acknowledges significant execution risk and an elevated valuation, but argues that Rocket Lab remains one of the most differentiated publicly traded assets in the space sector.