Rocket Lab shares have the potential to take off, according to Bank of America.
Analyst Ronald Epstein reiterated his buy rating on the space stock while shaving his price target down by $2 to $10.
Epstein's new price target implies the stock could soar 134.2% from Monday's close.
After investigating the September mid-flight failure of its Electron rocket, Rocket Lab is aiming to get its launch business back on track by the end of the year.
The analyst's price target cut followed a reassessment of the discount rate following the Electron launch snafu.
Persons:
Ronald Epstein, Epstein, Bank of America's Epstein, Epstein doesn't, CNBC's Michael Bloom, Michael Sheetz
Organizations:
Bank of America, Bank of, MDA
Locations:
Monday's