Jefferies lowered the firm’s price target on Virgin Galactic (SPCE) to $5 from $8 and keeps a Buy rating on the shares. The firm believes the company’s Q4 results “point to progress” as its first spaceship comes together with the ground test phase targeted to begin in April. Jefferies sees “defined catalysts” for the stock with two new spaceships progressing to the ground test phase in April.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPCE:
- Debt Covenants Squeeze Virgin Galactic’s Financial Flexibility and Heighten Default Risks
- Virgin Galactic Charts Risky Path to Commercial Launch
- Virgin Galactic targets positive cash flow in fiscal 2027, says TD Cowen
- Virgin Galactic up 12% after Q4 results, announcement of resumed expeditions
- SPCE Earnings: Virgin Galactic Shows Improving Financial Results as Loss Narrows