Virgin Galactic's stock rises after Truist upgrade

Virgin Galactic Holdings Inc. shares rose 4% in premarket trade Wednesday after Truist Securities upgraded the stock to hold from sell and raised its price target to $3 from $1. “Our view on the company’s operational prospects is unchanged,” Truist Securities analyst Michael Ciarmoli wrote in a note released Wednesday. “The company’s decision to halt commercial operations mid-2024 to focus on deploying capital towards the development of the Delta fleet is prudent in our view but removes the likelihood of an ...