Susquehanna Maintains Neutral on Virgin Galactic Hldgs, Adjusts Price Target To $8 from $24 (1-for-20 Reverse Stock Split)
Portfolio Pulse from Benzinga Newsdesk
Susquehanna analyst Charles Minervino maintains a Neutral rating on Virgin Galactic Holdings (NYSE: SPCE) and adjusts the price target to $8 from $24 following a 1-for-20 reverse stock split.
July 17, 2024 | 6:00 pm
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Susquehanna analyst Charles Minervino maintains a Neutral rating on Virgin Galactic Holdings and adjusts the price target to $8 from $24 following a 1-for-20 reverse stock split.
The adjustment of the price target from $24 to $8 following a 1-for-20 reverse stock split indicates a significant downward revision in the stock's valuation. The Neutral rating suggests that the analyst does not foresee immediate positive catalysts for the stock. This news is likely to have a negative short-term impact on SPCE's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100