Aerospace and defense corporation Rocket Lab USA (NASDAQ: RKLB) recently received a significant analyst boost when Cantor Fitzgerald increased its target price for the space company to a street-high $35. The upgrade follows several recent positive initiatives by the company, as it continues to impress with its strategic advancements, upcoming pipeline, and proven track record.
The company's ongoing favorable technical positioning adds to the positive analyst sentiment. Shares of RKLB are consolidating above critical support at nearly $25. Further consolidation before re-testing $30 could be the energy the stock needs to build before staging a more sustainable all-time high breakout.
