Rocket Lab and Firefly Get Upgrades. Why the Space Selloff Was ‘Unwarranted.’

Kit Norton

Mon, June 15, 2026 at 4:44 PM EDT 3 min read

Shares of Rocket Lab and Firefly Aerospace advanced Monday after the space stocks received upgrades following the sharp sector selloff late last week on Elon Musk’s SpaceX initial public offering debut. KeyBanc Capital Markets analyst Michael Leshok on Sunday upgraded both Rocket Lab and Firefly to Overweight (Buy) from the previous Sector Weight (Hold), setting price targets of $135 and $50, respectively, for the space stocks. Rocket Lab rose 6.7% to $109.25 on Monday, clawing back some of its 11% drop from Friday.