JPMorgan analyst Seth Seifman lowered the firm’s price target on FireFly Aerospace (FLY) to $28 from $55 and keeps an Overweight rating on the shares. The firm attributes the stock’s underperformance to difficulties in ramping up Alpha launches in the near term. It cut estimates o reflect a more gradual ramp in Alpha launches and a more “company-funded approach” to the Golden Dome from the Department of Defense.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FLY:
- FireFly Aerospace portfolio can drive diverse growth, says Roth Capital
- FireFly Aerospace reinstated with a Neutral at Goldman Sachs
- FireFly Aerospace files to sell 11.11M shares of common stock for holders
- FireFly Aerospace price target lowered to $27 from $52 at Morgan Stanley
- Firefly Aerospace Faces Legal Turbulence Over Misleading Claims