Brokerages initiate coverage on space tech firm Voyager as quiet period winds down
At least five brokerages start coverage on Voyager Technologies VOYG.N as the mandatory quiet period ends, with broadly bullish views
Shares of the space tech firm marginally down premarket
Voyager raised $382.8 million by selling nearly 12.4 million shares in an upsized IPO last month
It secured a valuation of $3.8 billion after shares more than doubled in their NYSE debut, opening at $69.75 apiece, above the $31 offer price
"Large defense pipeline positions for 20%+ multi-year growth", Barclays says, adding that there is a strong probability for Starlab win
"While it could take one to two years to ramp to a full rate of production, we believe VOYG’s underlying propulsion technology could be sought after by other defense players, including legacy defense primes over time", analysts at KeyBanc said
Morgan Stanley and J.P. Morgan were the lead underwriters on the listing
Below are some of the ratings and price targets on VOYG
Brokerage | Rating | Price Target |
Jefferies | Buy | $50 |
J.P.Morgan | Overweight | $52 |
Barclays | Equal weight | $45 |
KeyBanc | Overweight | $50 |
BofA Global Research | Buy | $50 |
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