Virgin Galactic gets two more buy ratings as Wall Street remains unanimous on space tourism stock

Space tourism is a niche market, so why are Virgin Galactic, SpaceX and Blue Origin betting on it?
Space tourism is niche, so why are companies betting on it?

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Virgin Galactic on Monday got its seventh and eighth buy ratings from Bank of America and Susquehanna, respectively, as the space tourism stock continues to have bullish recommendations by all the Wall Street firms that cover it.

In addition to the two most recent recommendations, Virgin Galactic also has the equivalent of buy ratings from Morgan Stanley, Vertical Research Partners, Cowen, UBS, Credit Suisse and Alembic Global Advisors.

"While Virgin Galactic is not yet operational, the company is gearing up to begin serving customers in early 2021. We believe SPCE's growth potential is unparalleled vs. our coverage and the current nascent stages of the company provide investors with a unique entry point into the stock," Bank of America analyst Ron Epstein wrote a note to investors.

Shares of Virgin Galactic rose more than 21% in trading from its previous close of $16.34. Before the open, the stock was up more than 42% from the beginning of the year.