Truist Securities Upgrades Virgin Galactic Hldgs to Hold, Raises Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst Michael Ciarmoli has upgraded Virgin Galactic Holdings (SPCE) from Sell to Hold and increased the price target from $1 to $3.
January 10, 2024 | 11:23 am
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Virgin Galactic Holdings was upgraded by Truist Securities from Sell to Hold with a raised price target from $1 to $3, indicating a more favorable outlook on the stock.
The upgrade from Sell to Hold suggests that Truist Securities believes the downside risk for SPCE has diminished, potentially leading to a more stable stock price. The increase in the price target from $1 to $3 reflects a more optimistic valuation of the company, which could positively influence investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100