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.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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