Virgin Galactic price target lowered to $36 from $41 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Virgin Galactic (SPCE) to $36 from $41 and keeps a Neutral rating on the shares after its Q4 results. The company continues through relatively early stages, generating minimal revenue, and burning free cash as it builds out its Delta class vehicles, but it still expects to launch into service in mid 2026 with research and internal employees, the analyst tells investors in a research note. Without visibility into the peak cash burn and the timing and magnitude of revenue with Delta, the firm remains “challenged to underwrite the risk”, Goldman adds.