• Virgin Galactic leaps after Morgan Stanley says the company's stock can jump 203% over the next year

    1 month ago - By Business Insider

    REUTERS/Luke MacGregor
    Virgin Galactic stock surged as much as 21% on Monday after Morgan Stanley initiated coverage on the company with a buy-equivalent rating
    The firm said Virgin Galactic has the potential to "disrupt the multi-trillion-dollar airline" industry.
    The bank also issued a $22 price target for the stock, implying a 203% surge through December 2020 from Friday's closing price.
    Virgin Galactic's space tourism business will drive growth in the near term and help launch a hypersonic travel industry, the analysts wrote, predicting the new technology could drive $800 billion in...
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