Goldman Sachs cuts the target price of Rocket Lab from $75 to $67, maintaining a neutral rating
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Goldman Sachs has lowered the target price of Rocket Lab from $75 to $67 and maintained a “neutral” rating on the stock. Analysts said that after discovering issues with the manufacturing process of the propellant dome for Neutron, the company now expects the first launch of Neutron to take place in 2027. As a result, Goldman Sachs has postponed the first flight forecast from the fourth quarter of this year to the second quarter of 2027, and expects increased costs and higher cash consumption in the coming quarters.
Goldman Sachs has lowered the target price of Rocket Lab ( RKLB ) from $75 to $67, and maintained a “neutral” rating on the stock.
In a research report, the analyst told investors that after Rocket Lab identified issues with the manufacturing process of the rocket propellant dome for Neutron, it is now anticipated that the first launch of Neutron will take place in 2027. This issue has led the company to postpone production and initiate an investigation.
In light of this delay, Goldman Sachs is currently modeling the initial launch time of Neutron for the second quarter of 2027, whereas previous forecasts were for the fourth quarter of this year. Goldman Sachs also expects that in the coming quarters, the company will face additional expenses and higher cash consumption. However, the bank also believes that given the imbalance between supply and demand in the orbital launch market, customer interest in Neutron is expected to continue.
This article was originally published on TheFly.
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