Virgin Galactic price target lowered to $2 from $3 at Truist

Truist lowered the firm’s price target on Virgin Galactic to $2 from $3 and keeps a Hold rating on the shares. The company’s EPS beat the Street as it announced that the revenue for their Q2 flight will be higher than expected, the analyst tells investors in a research note. Despite the generally as-expected results however, the firm is reducing its price target in a reflection of the prolonged upcoming hiatus from revenue generation, Truist added.