UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Orbital Sciences Corporation

In a report published Friday, Jefferies & Company reiterated its Buy rating on Orbital Sciences Corporation

, and raised its price target from $19.00 to $21.00. Jefferies noted, “With the delay of another 6 weeks of the handover of the Antares launchpad at Wallops Island, VA., we revise our EPS estimates. This event is one milestone in a series of events that will lead to the first mission under NASA's Commercial Resupply Services Contract (CRS). Program success should lead to higher operating margins, revenue, and free cash flow for the business.” Orbital Sciences Corporation closed on Thursday at $14.70.