Virgin Galactic price target lowered to $1.10 from $2 at Susquehanna

Susquehanna analyst Charles Minervino lowered the firm’s price target on Virgin Galactic to $1.10 from $2 and keeps a Neutral rating on the shares. The firm updated its model following 1Q24 earnings and while Susquehanna continues to believe the strategy of prioritizing the Delta class as the company’s longterm economic engine is sensible, they remain skeptical of the company’s ability to execute its plan within the intended timeline.