Rocket Lab's FY23 Launch Revenue May Be Hampered By $22.5M Following Recent Satellite Mission Mishap: Analyst Cautions
Portfolio Pulse from Nabaparna Bhattacharya
Stifel analyst Erik Rasmussen has reiterated a Buy rating on Rocket Lab USA, Inc. (RKLB) but lowered the price target to $10 from $11 following a recent satellite mission mishap. The company has reduced its Q3 FY23 financial outlook, with revenues expected to be impacted by roughly $22.5 million in 2023. Despite this, the analyst is encouraged by the limited impact on gross margins and ongoing cost optimization efforts.
September 27, 2023 | 7:00 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Rocket Lab's Q3 FY23 outlook has been reduced and its 2023 revenues are expected to be impacted by roughly $22.5 million due to a recent satellite mission mishap.
The recent satellite mission mishap has led to a reduction in Rocket Lab's Q3 FY23 outlook and is expected to impact its 2023 revenues by roughly $22.5 million. This negative news could potentially lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100