UBS Downgrades Virgin Galactic (SPCE) to Neutral, Valuation is Full
Get Alerts SPCE Hot Sheet
Rating Summary:
3 Buy, 8 Hold, 6 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Join SI Premium – FREE
(Updated - February 10, 2021 4:59 AM EST)
UBS downgraded Virgin Galactic (NYSE: SPCE) from Buy to Neutral with a price target of $52.00 (from $35.00).
The analyst comments "We remain convinced in the fundamentals of the VG offering and the scarcity of the experience provided to customers we laid out in our initiation, in particular. However, we're mindful of valuation that appears full following a 100%+ gain since the start of the year and a 300%+ move since the fall, and are downgrading to Neutral from Buy. The end of this week will be the reopening of the launch window for powered flights which, assuming a successful suborbital flight, will put the company on a trajectory to complete its test program and initiate commercial operations into 2H21. While the catalyst chain is appealing, it does seem priced in."
For an analyst ratings summary and ratings history on Virgin Galactic click here. For more ratings news on Virgin Galactic click here.
Shares of Virgin Galactic closed at $56.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Amazon.com (AMZN) PT Raised to $215 at UBS
- Nomura/Instinet Downgrades ICICI Prudential Life Insurance Co Ltd. (IPRU:IN) to Neutral
- Jefferies Downgrades Calix (CALX) to Hold
Create E-mail Alert Related Categories
Analyst Comments, Downgrades, Hot DowngradesRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!