Rocket Lab, Firefly rebound after KeyBanc dismisses SpaceX IPO pullback
Rocket Lab and Firefly Aerospace shares climbed Monday after KeyBanc Capital Markets upgraded both stocks. The call follows what KeyBanc said was an overdone drop last week tied to the SpaceX listing. Analyst Michael Leshock moved Rocket Lab to Overweight from Sector Weight and put a $135 target on the stock. Leshock said the company is “the clear #2 to SPCX,” Investing.com reported. Firefly received an Overweight rating and a $50 price target as well. Rocket Lab and Firefly rebounded following a stretch of losses for space stocks after SpaceX’s IPO got attention. Rocket Lab shares gained 4.3% to $106.84, while Firefly rose 4.3% to $33.25 in the latest trading. SpaceX kept rising, up 8.3% at $174.35 after jumping 19% in its first session on Nasdaq last Friday.