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.

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Source Fool.com