TD Cowen Maintains Buy Rating on Virgin Galactic with $4.50 Price Target
TD Cowen believes the most notable takeaway from Virgin Galactic's Q4 report is its target for positive quarterly cash flow in fiscal 2027. TD left the earnings call with improved visibility into Virgin's path to commercial execution as the company transitions from the build phase into a test-driven execution phase for its Delta Class program. The firm views the Q4 report as largely in line with expectations and keeps a Buy rating on the shares with a $4.50 price target. Virgin Galactic in morning trading is up 21%, or 45c, to $2.62.
