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Virgin Galactic upgraded to Peer Perform from Underperform at Wolfe Research
The Fly

Virgin Galactic upgraded to Peer Perform from Underperform at Wolfe Research

Wolfe Research upgraded Virgin Galactic to Peer Perform from Underperform without a price target. With WhiteKightTwo’s return to flight, Virgin Galactic shares will "likely link to a positive event path" through June, the analyst tells investors in a research note. The company’s negative free cash flow is a fundamental concern but history suggests "respecting an event path like the one ahead," writes the firm. It says peer multiple expansion also drives a valuation higher for the stock.

Published first on TheFly

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