RocketLab rises on analyst target hike, M&A, SpaceX problems

Shares of Rocket Lab got a bump Wednesday after analysts from Stifel upped their price targets and competitor SpaceX suffered its latest failure.

Stifel boosted its price target to $34, which is 18% higher than yesterday’s close, on the heels of its announcement of a deal to buy a company that specializes in deployment systems for military satellites, including President Trump’s pet missile defense project. The just-passed House budget bill sets aside $25 billion for the project.