Wells Fargo lowered the firm’s price target on Virgin Galactic to $1 from $15 and keeps an Underweight rating on the shares. Virgin Galactic’s backlog is down to 700 passengers from 800 just over a year ago, the firm says. Wells doesn’t see a reason to get more positive with flights still on hold.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPCE:
- SPCE Earnings: Virgin Galactic Rises on EPS and Revenue Beats
- Virgin Galactic Shares Vision and Operations Update Video
- Virgin Galactic reports Q2 EPS ($4.36), consensus ($4.92)
- Virgin Galactic options imply 15.8% move in share price post-earnings
- Options Volatility and Implied Earnings Moves Today, August 07, 2024
Questions or Comments about the article? Write to editor@tipranks.com