Voyager Technologies price target lowered to $25 from $46 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Voyager Technologies (VOYG) to $25 from $46 and keeps an Equal Weight rating on the shares. The firm came away from the company’s investor day with new insight into Starlab’s technical offerings and the company’s M&A playbook, but lowers its price target as the firm marks-to-market the valuation and adjusts Starlab probability-weighting, telling investors that next year’s CLD downselect “remains a binary event.”