RKLB News & Events

Morgan Stanley analyst Justin Lang raised the firm's price target on Iridium (IRDM) to $54 from $26 and keeps an Equal Weight rating on the shares after the company announced plans to be acquired by Rocket Lab (RKLB) for about $54 per share in cash and stock. The firm, which views Iridium as a largely complementary asset to Rocket Lab's existing business, sees "a compelling rationale for this transaction," the analyst tells investors.

Citizens analyst Trevor Walsh raised the firm's price target on Rocket Lab (RKLB) to $130 from $95 and keeps an Outperform rating on the shares after the company agreed to acquire Iridium (IRDM) in an $8B deal. The deal accelerates Rocket Lab's expansion into space applications, and creaties a vertically integrated space platform spanning launch, spacecraft manufacturing, spectrum, and on-orbit communications services, the analyst tells investors in a research note.