Herbert’s firm has a buy rating on Branson’s company but placed a $35 price target on the stock. That’s below Monday’s closing price.
Likewise, AB Bernstein analyst Douglas Harned told his clients “We see this as important on the path toward starting passenger flights, which we assume will happen in early 2022.” And the firm placed a market performance rating on Virgin Galactic.
Space Flight shifts space race
On Sunday, with the launch of the VSS Unity, Branson opened up “space tourism” to the world. Before Branson took off billionaire CEO of Amazon and Blue Origin, Jeff Bezos was trolling the mission. One of his claims was that Blue Origin was better. And Bezos also felt that the Unity wasn’t flying “high enough” to be in space.
Elon Musk showed up to encourage Branson. They are apparently good buddies. And neither of them cares for Bezos. The space race is continuing to heat up with Bezos scheduled to launch on July 20th.
