JPMorgan lowered the firm’s price target on York Space Systems (YSS) to $38 from $39 and keeps an Overweight rating on the shares. The firm views the company’s first quarter as a public company “encouraging.” While the stock has sold off on concerns about whether York Space can reinforce the backlog to drive anticipated growth, JPMorgan came away with confidence based on a recent commercial contract and progress towards winning business at intelligence agencies, the analyst tells investors in a research note.
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