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Firefly Aerospace: Analyst Neutral, Price Target $29
30 Nov
Summary
- Goldman Sachs initiated coverage with a Neutral rating and $29 target.
- The company serves a growing, supply-constrained nascent space market.
- Morgan Stanley trimmed Firefly's price target due to inconsistent launch results.
Goldman Sachs has initiated coverage on Firefly Aerospace, assigning a 'Neutral' rating and a price target of $29 per share. This target implies a potential upside of approximately 67%, driven by the company's positioning in the burgeoning space market. Analysts note that this sector is poised for acceleration, addressing a supply-constrained launch domain.
Despite the positive long-term outlook, Goldman Sachs also highlighted industry-specific risks and the company's recent launch setbacks. This cautious stance is echoed by Morgan Stanley, which recently reduced its price target for Firefly Aerospace. The firm compared Firefly's limited launch history unfavorably to competitors like Rocket Lab.
Firefly Aerospace, founded in 2017 and based in Texas, specializes in mission solutions for government and commercial clients. The company offers various launch vehicles and services, including those under the Alpha and Eclipse brands. The company's performance is closely watched as it navigates the competitive and challenging space launch industry.
