Truist downgrades Virgin Galactic, citing potential for further delays of space flights

Published Mon, May 9 20227:28 AM EDTUpdated Mon, May 9 20228:55 AM EDT

Jesse Pound @/in/jesse-pound @jesserpound

Virgin Galactic’s space tourism rocket plane SpaceShipTwo returns after a test flight from Mojave Air and Space Port in Mojave, California, December 13, 2018.

Gene Blevins | Reuters

There is little near-term upside for embattled space tourism stock Virgin Galactic, and investors should look elsewhere for rebound candidates, according to Truist.