Virgin Galactic (SPCE) PT Lowered to $30 at Jefferies

November 16, 2021 8:34 AM EST
Get Alerts SPCE Hot Sheet
Price: $6.74 --0%

Rating Summary:
    3 Buy, 6 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 23 | New: 34
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Jefferies analyst Greg Konrad lowered the price target on Virgin Galactic (NYSE: SPCE) to $30.00 (from $33.00) while maintaining a Buy rating.

The analyst commented, "Q3 results point to capacity constraints with the first private astronaut spaceflight targeted for the end of 2022 and a steep ramp predicated on the development of the Delta class spaceship. Demand is not impacted by supply constraints given a backlog that has grown to 700 customers and should continue to expand. While we acknowledge NT lacks catalysts, the long-term potential is an attractive value proposition given a growing commercial space tourism market."

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