York Space Systems price target lowered to $45 from $55 at Raymond James

Raymond James lowered the firm’s price target on York Space Systems (YSS) to $45 from $55 and keeps an Outperform rating on the shares. The most recent quarter surpassed the firm’s revenue expectations, while EBITDA came in slightly below the firm’s estimate, and the backlog included the previously disclosed capstone commercial award, the analyst tells investors in a research note. The firm added that while it continues to see a credible path to the company’s targets, it expects investor skepticism to persist until a meaningful tranche of orders is formally booked over the coming months.