Why Virgin Galactic Stock Is Up Today

We are days away from Richard Branson taking his first space tourism flight aboard a Virgin Galactic Holdings (NYSE: SPCE) spacecraft. For Branson's sake we can only hope the ride will be less turbulent than that of Virgin Galactic's stock.

Shares of Virgin Galactic traded up more than 5% on Thursday, reversing a downward trend in the previous days on the strength of a massive price target boost from one Wall Street bank.

Virgin Galactic shares blasted off on June 25 after the company won approval for passenger space flights, clearing the way for Branson's planned July 11 flight. But the stock spent much of the next week reversing those gains as analysts questioned whether the run-up had been too much, too fast.

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Source Fool.com