Wells Fargo Maintains Underweight on Virgin Galactic Hldgs, Lowers Price Target to $0.75
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Matthew Akers has maintained an Underweight rating on Virgin Galactic Holdings (NYSE:SPCE) and lowered the price target from $1 to $0.75.
May 09, 2024 | 4:05 pm
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Wells Fargo analyst Matthew Akers maintains an Underweight rating on Virgin Galactic Holdings and lowers the price target from $1 to $0.75.
The reduction in price target by a significant financial institution like Wells Fargo, especially when accompanied by an Underweight rating, suggests a bearish outlook on the stock. This could lead to negative sentiment among investors, potentially causing a short-term decrease in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100