Goldman Sachs lowered the firm’s price target on Virgin Galactic (SPCE) to $41 from $47 and keeps a Neutral rating on the shares. The company remains in its R&D stage, generating low revenue, with negative free cash as it builds out its Delta class vehicles which are set to enter into service in 2026, the analyst tells investors in a research note. The firm adds however that without visibility into the peak cash burn and exact timing of Delta launches, it is difficult to underwrite the risk.
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Read More on SPCE:
- Virgin Galactic price target raised to $9 from $7 at TD Cowen
- Virgin Galactic Reports Q3 2024 Earnings and Progress
- Virgin Galactic announces at-the-market equity program for up to $300M
- Virgin Galactic reports Q3 EPS ($2.66), consensus ($4.09)
- SPCE Earnings: Virgin Galactic Beats on EPS as Losses Narrow
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