Needham Reiterates Buy on Rocket Lab (RKLB) with $55 Price Target

Rocket Lab Corp. (NASDAQ:RKLB) is one of the best stocks for day trading. The stock currently trades near the top of its 52-week range of $6.20-$53.40, and is another name on our list with high volatility, with an average daily trading range of around 9%.

Rocket Lab Corp.’s (NASDAQ:RKLB) stock has already delivered exceptional gains, climbing 675% over the past year and more than 87% year-to-date.

On September 3, Needham’s Ryan Koontz reiterated a Buy rating on Rocket Lab Corp. (NASDAQ:RKLB) with a $55 price target. The analyst highlighted the opening of Launch Complex 3 at Wallops Island, Virginia, as an important milestone that paves the way for the company’s Neutron rocket program.

Koontz said the new facility gives Rocket Lab Corp. (NASDAQ:RKLB) a stronger footing against rivals like SpaceX, with management aiming to launch Neutron by late 2025. Company leaders, employees, and local officials have all expressed confidence in meeting that target. The analyst believes that, backed by a solid track record in launch services, Rocket Lab Corp. (NASDAQ:RKLB) appears well placed to capture additional market share as it expands into the medium-lift segment.

Rocket Lab Corp. (NASDAQ:RKLB) is an end-to-end space company that provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions.

While we acknowledge the potential of RKLB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.