Berenberg launches space coverage, initiates 4 stocks with Buy ratings
Berenberg initiated coverage of the space sector, rating Rocket Lab, AST SpaceMobile, Planet Labs, and HawkEye 360 as Buy, and Avio SpA as Hold. Analyst Michael Filatov expects the space economy to exceed $1 trillion by 2030, driven by falling launch costs and defense spending. Price targets were set at $83 for Rocket Lab, $92 for AST SpaceMobile, $25 for Planet Labs, and $24 for HawkEye 360, while Avio SpA was given a €33 target.
How this was made
The 30-second read
Why it matters
Analyst ratings provide fresh valuation benchmarks and may trigger short‑term buying pressure across the newly covered stocks.
Market read
First‑time coverage of Rocket Lab, AST SpaceMobile, Planet Labs, and HawkEye 360 introduces new investment theses for the space sector.
What to watch
Potential regulatory hurdles and competition from established launch providers could temper upside.
Background
Berenberg launched a new space sector coverage team, initiating four U.S. space companies with Buy ratings and price targets.
Ticker impact
Berenberg initiated coverage on Rocket Lab with a Buy rating and an $83 price target.
Potential upside of 5‑10% if market digests the new target.
Buy rating and target above current price suggest near‑term buying pressure.
AST SpaceMobile received a Buy rating and the highest target of $92 among the new initiations.
Expect modest upside, 4‑8%, on the news.
Unique technology positioning and large partnership base support the rating.
Planet Labs was initiated with a Buy rating and a $25 price target.
Potential 3‑6% rally as investors price in growth outlook.
Analyst cites accelerating revenue and strong backlog as catalysts.
HawkEye 360 received a Buy rating and a $24 price target.
Possible 2‑5% price lift on the rating.
Analyst emphasizes organic growth and defense demand.
Market effects
The new coverage may increase visibility for the broader space sector, prompting re‑rating of peers.
U.S. space‑tech stocks could see modest inflows as analysts expand coverage.
Highlights growing defense and sovereign demand, relevant for global aerospace investors.
Counterpoint
Some investors may view the high targets as overly optimistic given execution risks in the nascent space market.
Key entities
- Research FirmBerenberg
Provider of the new coverage and ratings.
- AnalystMichael Filatov
Lead analyst authoring the coverage notes.
