Not SpaceX. Not Blue Origin. The Space Titan That Morgan Stanley Calls an Undervalued Launch Play.
The final frontier may just become the next great economic engine for the global economy. Space Exploration Technologies (NASDAQ: SPCX) is increasing its launch cadence at a rapid clip, with satellites and other orbital technologies taking over the night sky. And yet, with a market cap of $2.3 trillion, SpaceX is trading at a premium, even relative to the space economy’s growth potential.
One space stock that may be undervalued is Rocket Lab (NASDAQ: RKLB). Morgan Stanley has a $105 price target on the stock, which is currently trading at $75. Here’s why Rocket Lab has such growth potential, and whether it is a buy right now.
SpaceX and Blue Origin may get all the headlines, but Rocket Lab is making a ton of progress as another commercial launch player. It currently has the small Electron rocket, which has won niche contracts for its precision in launch services. Rocket Lab just signed a 20-mission contract with Synspective, its largest contract ever, which will run through 2031.
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