Virgin Galactic price target lowered to $3.50 from $4 at Susquehanna

Susquehanna lowered the firm’s price target on Virgin Galactic (SPCE) to $3.50 from $4 and keeps a Neutral rating on the shares. The firm increased targets in the aerospace and defense group as part of its Q4 preview. The fundamental backdrop across commercial aerospace, defense, and aftermarket is “quite favorable,” the analyst tells investors in a research note. Susquehanna cites its bullish outlook across the submarkets over the medium-term for the target increases.