Virgin Galactic Holdings Inc SPCE is trading higher again Friday morning after the stock was upgraded.
What Happened: UBS analyst Myles Walton upgraded Virgin Galactic from Neutral to Buy and lowered the price target from $40 to $36.
On Thursday, the company announced that the next rocket-powered test flight of SpaceShipTwo Unity is set to take place on May 22, assuming fair weather conditions and the successful completion of technical checks.
Related Link: Virgin Galactic Shares Rocket Higher: What Investors Should Know
Virgin Galactic announced this news after it completed a maintenance review of VMS Eve, the mothership jet aircraft designed to carry SpaceShipTwo to an altitude of approximately 50,000 feet.
Following the flight scheduled for Saturday, the company will complete a data review in order to provide information about the next steps in the test flight program.
Price Action: Virgin Galactic traded as high as $62.80 and as low as $14.21 over a 52-week period.
At last check Friday, the stock was up 4.39% in premarket trading at $20.68.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
