Investment Bank's Target Adjustment Causes Virgin Galactic Stock to Jump 13%

Monday, 13 May 2024, 16:30
Virgin Galactic stock experiences a 13.5% surge following Investment bank TD Cowen's price target revision. Despite the lowered target, the bank still maintains a bullish outlook on Virgin Galactic, citing the space company's future revenue potential through new spaceplane construction and ticket pricing. Investors are faced with both risks and rewards as the stock's trajectory hinges on successful developments and achieving profitability by late 2026.
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Investment Bank's Target Adjustment Causes Virgin Galactic Stock to Jump 13%

Is bad news good news for Virgin Galactic?

Virgin Galactic stock soared due to Investment bank TD Cowen's revised price target to $2 per share, affirming the stock as a buy despite concerns.

Is Virgin Galactic stock a buy?

Analyst projects Virgin Galactic's revenue generation from new spaceplane construction, potentially leading to profitability by late 2026, while highlighting the risks of revenue disruption in the interim.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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