Virgin Galactic Is Now a Buy With 71% Upside, Analyst Says
Just like its upcoming test flight this weekend, Virgin Galactic Holdings (NYSE: SPCE) stock is positioned for a powerful liftoff. One analyst tracking the stock, UBS' (NYSE: UBS) Myles Walton, upgraded his recommendation on the stock Friday to buy from neutral. That was despite the prognosticator's price target cut; to him, it's now worth $36 per share, instead of $40.
Even with that chop, Virgin Galactic still has significant upside. Walton's new level implies a gain of almost 71% on the most recent closing stock price.
Investors are bullish on Virgin Galactic just now mainly because of that test flight, the scheduling of which was confirmed by the company Thursday.
Source Fool.com
