I read on https://www.cnbc.com/amp/2021/07/12/virgin-galactic-shares-rise-after-successful-branson-flight-paves-wave-for-space-tourism-industry.html:

The firm has a buy rating on the company, but also placed a $35 price target on the stock, which is below its current level.

How can a financial firm give a buy rating to a stock while placing its price target below the market price? What's the rationale behind it?


You have interpreted this as current coverage when in fact it is not. Canaccord Genuity initiated coverage on Virgin Galactic on May 26th with a buy rating and a $35.00 price target. SPCE was about $27 at that time.

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