Last weekend’s successful test flight for Virgin Galactic should be the first in a series of positive events for the company, and investors should hop aboard, according to Canaccord Genuity.
Shares of the space exploration company jumped almost 28% on Monday after a successful test flight over the weekend, erasing the year-to-date losses for a stock that had been under significant pressure.
Canaccord analyst Ken Herbert initiated coverage of the stock on Wednesday with a buy rating, saying in a note to clients that the company had several potential positive news events coming in the second half of the year.
