Sell Virgin Galactic’s stock after another long flight delay, UBS says
The Ratings Game
Last Updated: Oct. 18, 2021 astatine 1:16 p.m. ET First Published: Oct. 18, 2021 astatine 12:57 p.m. ET
Analyst Myles Walton has swung to bearish from bullish successful 5 months portion the banal has gone afloat circle
UBS downgrades Virgin Galactic to merchantability aft much formation delays.
Virgin Galactic Holdings Inc.Shares of Virgin Galactic dove Monday toward a five-month low, aft UBS expert Myles Walton recommended investors sell, aft different “long pushout” of revenue-generating trial flights was announced conscionable weeks earlier of a ample chuck of shares becomes disposable for sale.
Walton downgraded the space-tourism institution to sell, aft being astatine neutral since July 5. He slashed his banal terms people by 42%, to $15 from $26. The caller people implied a further 24% downside from existent levels.
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