Stocks on the move: Virgin Galactic see uptick on BOA buy rating, Pinterest makes gains as Guggenheim initiates coverage w/ buy rating
Stocks on the move: Virgin Galactic on BOA buy rating, Pinterest as Guggenheim initiates coverage w/ buy rating .
Video Transcript
AKIKO FUJITA: But before we let you go, stocks on the move. We are watching Virgin Galactic up nearly 20% after Bank of America and Susquehanna initiated coverage on the stock with a buy rating. B of A saying that Virgin Galactic has nearly full vertical integration capabilities for the spacecraft, and they see a big upside to that.
Pinterest also getting a big pop in this session after Guggenheim initiated coverage with a buy rating to $48 a share price target. The analysts there pointing to a 20% upset from Friday's closing. Pinterest recommendations and expanding content verticals will increase the service's utility and drive higher frequency.
And UPS also moving after getting an upgrade to overweight from sector weight by KeyBank Capital Markets. Analysts there saying that capital deployment initiatives from UPS's new CEO combined with secular trends supporting domestic package growth should aid margins and returns.
