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2021-07-08

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Cowen raises Virgin Galactic price target to Wall Street high ahead of Branson flight

Cowen raised its price target onVirgin Galacticstock to the highest among Wall Street firms on Wedne

Cowen raises Virgin Galactic price target to Wall Street high ahead of Branson flight

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCowen raises Virgin Galactic price target to Wall Street high ahead of Branson flight\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-08 08:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/07/cowen-raises-virgin-galactic-price-target-to-wall-street-high.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cowen raised its price target onVirgin Galacticstock to the highest among Wall Street firms on Wednesday, followingthe space tourism company’s announcement that it plansto launch founderSir Richard ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/07/cowen-raises-virgin-galactic-price-target-to-wall-street-high.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COWN":"高宏集团","SPCE":"维珍银河"},"source_url":"https://www.cnbc.com/2021/07/07/cowen-raises-virgin-galactic-price-target-to-wall-street-high.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1134959430","content_text":"Cowen raised its price target onVirgin Galacticstock to the highest among Wall Street firms on Wednesday, followingthe space tourism company’s announcement that it plansto launch founderSir Richard BransononJuly 11.\n“We are more positive about the prospects of a successful commercial spaceflight program in 2022. Visibility, marketing programs, and ticket sales should support valuation,” Cowen analyst Oliver Chen wrote in a note to investors.\nCowen raised its price target to $51 a share from $23 a share, and has an outperform rating on the stock. The firm’s target is 44% above the Wall Street average and represents a 15% gain from where shares are trading.\nShares of Virgin Galactic slid 3% in Wednesday’s session to close at $44.92.\nThe company previously said that it would reopen ticket sales after Branson’s flight, a possibility that Cowen emphasized.\n“We believe the timing of ticket sales could be slightly earlier than previously communicated,” Chen said.\nNotably, a wide variety of risks threaten Virgin Galactic’s stock, with Cowen saying a delay of Branson’s spaceflight “could drive a [double-digit percent] decline.”\n“Key risks include: Potential delays with the remaining test flights, technical issues that may potentially emerge from test flights, SPCE’s inability to achieve profitability, any safety-related problems or technical mishaps, and higher competition,” Chen added.","news_type":1,"symbols_score_info":{"COWN":0.9,"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":762,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}