Virgin Galaxy(SPCE.US) shares strengthened in early trading after the company was allowed to resume space flight. So far, some financial institutions on Wall Street have been bullish, while bears have been bearish.
Jeffery reiterated its "buy" rating on Virgin Galaxy, saying it was a big plus for the Federal Aviation Administration (FAA) to approve Virgin Galactic's return to space travel and said the company's bullish story was far from over.
Even if FAA announces the resumption of space travel, Bank of America CorporationNor did it change Virgin Galactic's "outperform" rating.
By expanding its protected airspace, Virgin Galactic will be able to provide more flexibility during the mission and build more real-time communication systems for future missions. While these measures are important steps in the right direction and should be reflected in its share price, we stick to our valuation model because it is based on the DCF valuation method, which is not affected by this news. "
Virgin Galactic is one of the top 10 stocks discussed by Reddit WallStreetBets over the past 24 hours, according to data provided by Quiver Quantitative.
As of press time, Virgin Galactic (SPCE.US) rose 9.18% to $24.630 at the start of trading.