Goldman Sachs analyst Anthony Valentini, assuming coverage from Noah Poponak, reinstated coverage of FireFly Aerospace (FLY) with a Neutral rating and $29 price target The company is serving a nascent space market that is bound to grow significantly in the coming years and fills a white space in a supply-constrained space launch market, the analyst tells investors in a research note. Goldman adds however that while it continues to see an attractive medium- to long-term investment case for FireFly, the launch industry comes with inherent risk, and the company’s recent launch mishaps warrant caution.
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