Morgan Stanley Downgrades Voyager Technologies Inc (VOYG) to Underweight

Morgan Stanley analyst Kristine Liwag downgraded Voyager Technologies Inc (NYSE: VOYG) from Equalweight to Underweight with a price target of $39.00.

The analyst comments: “We maintain our PT for Voyager of $39, but downgrade to Underweight from Equal-weight on a relative basis as we evaluate Voyager within the context of other investment opportunities within the broader space ecosystem.

As we evaluate Voyager relative to other publicly-traded companies in the Space ecosystem, we view Voyager as presenting a relatively less attractive risk-reward proposition. In our view, other companies, such as OW-Hawkeye offer more compelling ways to play coming increased U.S. government investment in national security Space, which we view as one of the key tailwinds for the sector.

In our valuation methodology, we assign a ~33% probability to the DCF-implied intrinsic value for the Starlab JV. (The probabilities discussed herein are only illustrative. They do not forecast a precise series of events and do not account for all possible outcomes but instead illustrate our sense of the relative plausibility of selected scenarios, based on current industry dynamics.) However, we note that there is a significant amount of risk associated with Starlab, and even should Voyager be chosen in the next NASA downselect, several competitors are expected to make it through this first selection stage.”

For an analyst ratings summary and ratings history on Voyager Technologies Inc click here. For more ratings news on Voyager Technologies Inc click here.

Shares of Voyager Technologies Inc closed at $29.78 yesterday.

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