Virgin Galactic's stock could surge by more than 50% this year, says UBS: by skleb1234
UBS initiated coverage of Virgin Galactic on Monday with a buy rating and analysts there predict the stock will climb more than 50% over the next year as space tourism eventually becomes an $800 billion industry by 2030.KEY FACTS
The space tourism company’s stock currently trades at around $18 per share, after rallying more than 12% on Tuesday and over 45% so far in 2020.with Elon Musk’s Space X and Amazon CEO Jeff Bezos’ Blue Origin, it is the only one of the three that is publicly listed. Citing a “robust backlog of customers” and “positive indicators around luxury spending,” UBS sees demand far outstripping supply for many years after Virgin Galactic starts commercial operations.
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